Iran's conflict impacts 41 economies
The European Bank for Reconstruction and Development expects the growth of 41 of its member countries to slow down to 3.1% this year, due to rising energy costs and supply chain disruptions resulting from the Middle East war. It has also significantly downgraded its forecasts for Lebanon and Iraq's economies. The report noted that the energy shock is exerting substantial pressure on economic activity, especially as inflation has risen to an average of 6.4%, limiting the ability of monetary policies to mitigate financial challenges.
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