IMF Warns of 1.3% Regional Output Contraction Due to War
The IMF expects regional output to contract by 1.3% because of the war's impact on energy, shipping and trade, warning of an exceptional level of uncertainty.
The International Monetary Fund announced on Thursday that it expects the region's output to contract by 1.3% due to the war's effects on the energy, shipping and trade sectors.
The Fund said in a statement that economic forecasts face an "exceptional level of uncertainty" that casts a shadow over growth prospects, noting that the conflict's effects have extended to energy supplies, shipping chains and trade.
The Fund warned that any additional disruption to energy production or to trade routes could lead to higher energy prices and weaken economic growth in the region.
