Middle East Conflict Poses Threat to Global Economy, Says OECD

The OECD warns of significant downside risk to the global economy due to the Middle East conflict. The outcome depends on various factors, including the conflict's duration. Currently, the OECD projects global growth to be under 3% by 2026.

The unfolding conflict in the Middle East presents a notable threat to global economic stability, according to the Organization for Economic Co-operation and Development (OECD).

Speaking at a conference in Bucharest, OECD Secretary General Mathias Cormann emphasized the significant downside risks facing the global economy due to the ongoing situation. He stated that key variables like the duration of the conflict could further influence economic impacts.

As it stands, the OECD forecasts global growth to hover just under 3% by 2026. Continual monitoring of the situation is essential to assess its full impact on global markets.

(With inputs from agencies.)