Middle East Conflict Fuels Economic Slowdown, Energy Crisis Fears
Governments and analysts are forecasting an economic slowdown and potential energy crisis for the current and next fiscal years, attributing the concerns to the ongoing conflict in the Middle East.
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Iran war energy crisis: how bad could it get? – The Latest
Oil and gas prices have jumped again as shipping through the strait of Hormuz came to a virtual standstill after Iran closed the waterway over the US blockade and Donald Trump announced an Iranian cargo ship had been seized trying to get past. Tehran has accused Washington of violating the fragile ceasefire agreement. With uncertainty over a second round of peace talks, fears continue to grow about the scale of the energy shock caused by the war. Lucy Hough speaks to the Guardian’s energy co...
By Presented by Lucy Hough with Jillian Ambrose; producer Bryony Moore; senior producer Ryan Ramgobin; lead producer Zoe Hitch
Read full article →Govt forsees economic slowdown during current, next fiscal years due to Middle East war
ISLAMABAD: The government said on Monday that Pakistan’s economic growth would be affected during the current and next fiscal years due to an almost 20 per cent cut in development budget for fuel subsidies and inflationary impacts of global supply chain disruptions amid the war in the Middle East. “This (cut in development budget) will have a negative impact and, coupled with international oil prices and inflation, will result in economic slowdown and affect our growth target of 4.2pc” for th...
By none@none.com (Khaleeq Kiani)
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