World Bank: Iran War Will Slow Growth and Trigger Cascading Repercussions

World Bank President Ajay Banga stated on Friday that the war with Iran will have cascading repercussions on the global economy, even if the fragile ceasefire announced by U.S. President Donald Trump is maintained.اضافة اعلان

He added that the damage would be significantly deeper if the ceasefire collapses and the conflict escalates. Banga noted that inflation could rise by 200 to 300 basis points, with a much greater impact if the war persists.

The war, which has claimed thousands of lives across the Middle East, has led to a 50% surge in oil prices. It has also disrupted supplies of oil, gas, fertilizers, helium, and other commodities, in addition to damaging tourism and air travel.

Source: Reuters