EBRD revises Iraq and Lebanon growth forecasts
The European Bank for Reconstruction and Development has lowered its economic growth forecasts for several countries, anticipating Iraq's economy to shrink by 12% and Lebanon's by 5% this year. This is due to the impacts of wars, the closure of the Strait of Hormuz, and the effects of the conflict with Israel on economic activity. Additionally, problems such as rising energy prices and increasing borrowing costs have led to a slowdown in growth in 41 economies, with inflation rates remaining stable around 6%. However, wheat prices have risen by 30% since February, and Ukraine's exports have fallen to their lowest level since 2022, posing a threat to food-importing economies like Egypt.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)