IMF Projects 4.8% Gulf Contraction in 2026 as Iran War Disrupts Oil Exports

Name: IMF Projects 4.8% Gulf Contraction in 2026 as Iran War Disrupts Oil Exports
Uploaded: 2026-10-23T09:02:41.5951+00:00
Description: The IMF now projects the Gulf Cooperation Council economy will contract 4.8% in 2026, a sharp downgrade from its April forecast of 2% growth, as the US-Iran conflict disrupts oil production and shipping. Oman is the only GCC member expected to grow, while the broader West Asia, North Africa, Afghanistan and Pakistan region is projected to shrink 1.3% before rebounding 6.6% in 2027.

The IMF now projects the Gulf Cooperation Council economy will contract 4.8% in 2026, a sharp downgrade from its April forecast of 2% growth, as the US-Iran conflict disrupts oil production and shipping. Oman is the only GCC member expected to grow, while the broader West Asia, North Africa, Afghanistan and Pakistan region is projected to shrink 1.3% before rebounding 6.6% in 2027.

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