IMF Slashes Growth Outlook for Gulf Oil States on Iran War Shock

The International Monetary Fund cut growth forecasts for countries across the Middle East due to disruptions stemming from the Iran war and warned that a prolonged conflict could put further pressure on the region’s economies.

Exporters relying on the strategic Strait of Hormuz, where vessel traffic remains a fraction of its pre-war levels, will see larger contractions than those with access to more diverse trade routes, the IMF said in its latest economic projections on Thursday.