The Middle East as a whole is negatively impacted by the growing economic losses brought on by the escalation of new conflicts or by the ongoing tensions within the region’s countries. According to the Global Peace Index report conducted by the Institute for Economics and Peace “IEP”, the Middle East is among those regions that have witnessed a wide range of conflicts and hotbeds of tension over the past ten years. Moreover, it is the least region among nine regions worldwide on the Global Peace Index for nine consecutive years ending in 2022.

The conflicts in the Middle East are not only reflected in the extent of losses in each country, but the impact is immediately reflected in the economic growth rates of the whole region, and this is clearly evident in the IMF’s reduction of expected growth in the Middle East and Central Asia region in 2024 by 0.5% from 3.4% to 2.9% in its outlook issued in October 2023.

For more details, please follow the link: https://ncmes.org/3392/