Latest news and articles about economic losses from NEX English
The International Monetary Fund (IMF) revealed in a recent study that wars lead to significant economic losses lasting over a decade, with GDP declining by an average of <strong>7%</strong> over five years. The study emphasizes that the impacts of armed conflicts extend beyond human dimensions to deeply and sustainably affect economies.
The recent armed conflict in the region has led to significant economic losses for Iraq, estimated at around <strong>$5 billion</strong> each month. The negative impacts extend beyond the national economy, affecting various sectors and raising concerns about the country's economic future.
The COVID-19 pandemic has led to devastating economic losses in the billions, resulting in the bankruptcy and closure of numerous companies. Conversely, some sectors have experienced a notable recovery, highlighting the stark contrast in the pandemic's impact on the global economy.
A new report from the United Nations Development Programme warns that the ongoing military escalation in the Middle East could cost the region's economies between <strong>3.7% and 6%</strong> of their GDP, equating to losses of up to <strong>$194 billion</strong>. This situation raises concerns about the economic stability of the area.
Abdullah Al-Dardari, Assistant Secretary-General of the United Nations, warns that military escalation in the Middle East could lead to economic losses of up to <strong>194 billion dollars</strong>, pushing an additional <strong>4 million people</strong> into poverty.
The United Nations Development Programme has warned that ongoing military escalation in the Middle East could result in economic losses for the Arab region ranging from $120 billion to $194 billion, threatening development and increasing unemployment rates.
Israel is experiencing significant economic losses estimated at around <strong>$3 billion</strong> weekly due to the ongoing war with Iran, according to reports from the Israeli Ministry of Finance. These losses are impacting various economic sectors across the country.
Cybercrime is significantly increasing globally, with Munich Re predicting that damages from these crimes will reach <strong>$14 trillion</strong> by 2028. This alarming trend highlights the urgent need for effective preventive measures against this growing phenomenon.
After 26 days of the closure of the Strait of Hormuz, Gulf Cooperation Council economies have incurred losses estimated between <strong>$18 billion and $20 billion</strong> from oil and gas revenues, threatening the region's stability.