Middle East conflict will damage UK’s economy ‘more than any other’
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The Organisation for Economic Cooperation and Development (OECD) has reported that the ongoing conflict in the Middle East will have a more detrimental impact on the UK's economy than on any other industrialized nation. The OECD projects that the UK economy will grow by only 0.7% this year, a significant decrease from its previous forecast of 1.2% for 2026. This assessment highlights concerns over rising inflation and the broader economic implications of geopolitical tensions.
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The assessment by the OECD is one of the first major evaluations of the economic repercussions stemming from the recent escalation of conflict in the Middle East, particularly the attack on Iran. As the situation evolves, its ramifications are likely to be felt across various sectors of the UK economy.
This article reflects the views of the Organisation for Economic Cooperation and Development and does not necessarily represent the views of The Guardian.
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