Khaberni - The European Bank for Reconstruction and Development said on Thursday that growth forecasts for some emerging markets are likely to be revised downward by up to 0.4 percentage points in the upcoming economic report due in June if high energy prices continue.
Oil prices have increased significantly since the United States and Israel started strikes on Iran, which responded by almost completely closing the vital Strait of Hormuz.
The bank mentioned that the economic impact will depend on the duration of the Middle East war and the extent of the damage to energy infrastructure.
The bank explained that Lebanon, Jordan, Iraq, Egypt, Ukraine, Mongolia, Senegal, Tunisia, Moldova, Kenya, Turkey, and North Macedonia are the economies most affected in the regions covered by the bank, taking into account countless factors including energy and food alongside the financial ability to mitigate the impact of shocks.
