Gulf Damage Hits $200B

Allianz Trade estimated the physical damage caused by the war in Gulf countries at more than $200 billion, concentrated mainly in their economies and energy infrastructure. More than 80 energy facilities were damaged, with one-third suffering severe damage. The report forecast a 4% contraction in the GCC’s GDP in 2026 and cumulative losses of $790 billion by 2030. It also projected varying contractions across countries, ranging from 14% in Qatar and 11% in Kuwait to 0.9% in the UAE, while Oman was expected to grow by 3.3%.

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