World Economy Could Be "Thrown Off Course" By War In Middle East: IMF
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The International Monetary Fund (IMF) has cut its 2026 global growth forecast to 3.1% due to the conflict in the Middle East, which has driven up oil, gas, and fertilizer prices. The IMF warns that the world economy could be 'thrown off course' by the war, with emerging markets facing nearly double the economic impact compared to advanced economies.
The IMF has reduced its global growth projection for 2026 to 3.1%. The conflict in the Middle East has increased oil, gas, and fertilizer prices, raising inflation outlook. Emerging markets will be hit harder than advanced economies. The IMF expects higher inflation this year at 4.4%. The global economy is less dependent on oil now than in the 1970s. The impact of the conflict will be felt more in the Middle East and vulnerable economies. Growth projections for the Middle East and central Asia have been cut to 1.9%. The US and China's growth rates have also been revised.
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