Warfare Spending Threatens Growth

The article focuses on the impact of regional and international wars on global and Gulf economies, where the costs of conflicts have exceeded one trillion dollars and are expected to reach 2.5 trillion dollars by the end of the year. There have been heavy losses in the Middle East totaling over 250 billion dollars and the loss of four million jobs. Gulf countries face varying challenges; the UAE, Saudi Arabia, and Oman have shown resilience thanks to their reserves and economic diversification, while Bahrain and Kuwait face greater risks. Qatar is also feeling uncertain due to its complete dependence on gas exports from the Strait of Hormuz. The tensions have notably affected economic growth, with a slowdown in growth rates, changes in supply chains, and economic integration. Additionally, soaring oil prices have become a burden rather than a revenue source. The head of America's largest bank warns of risks in the US stock market, despite its high valuation, while experts recommend buying gold in the long term as a safeguard against ongoing tensions and geopolitical turmoil.

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