"The outbreak of war in the Middle East has added a new source of fiscal pressure to an already strained global landscape, disrupting energy supplies and tightening financial conditions."
"Global energy prices have surged since the first US-Israeli airstrikes on Iran on 28 February, risking a renewed inflation shock that has fuelled a sell-off in global debt markets."
"The IMF warned that gross government debt levels, which rose to almost 94% of GDP last year, are on track to reach 100% by 2029, a level previously seen only after World War II."
The Iran war is expected to elevate global debt levels, potentially reaching 100% of GDP by 2029. The conflict is driving up energy and food prices, increasing government borrowing costs, and hindering economic growth. The IMF warns that the war adds fiscal pressure to an already strained global economy, with governments facing tough choices between protecting citizens from rising costs and maintaining sound public finances. A further escalation could lead to a global recession, particularly impacting the UK.
Read at www.theguardian.com
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