The IMF forecasts the Middle East and Central Asia economy will contract 0.3 percent in 2026, a sharp downgrade from April's 1.9 percent growth projection, citing disruption to shipping in the Strait of Hormuz from the US-Israel war on Iran. Kuwait, Iraq and Qatar face double-digit GDP declines of 16.7, 16 and 15.6 percent.
IMF: Middle East, Central Asia economies to shrink in 2026
Source: Al Jazeera