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World Bank Cuts 2026 Global Growth Forecast to 2.5% After Iran Conflict
The World Bank lowered growth projections for two-thirds of countries after the U.S. joined Israel in attacking Iran on Feb. 28 and Iran closed the Strait of Hormuz. The bank now expects Brent crude to average $94 a barrel this year.
Jun 13, 12:52 PM·1m read1 source
Los Angeles TimesAudio version
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The World Bank stated on Thursday that the economic fallout from the Iran war will drag down global growth this year. 5% this year, its weakest performance since the COVID-19 pandemic upended global commerce six years ago. The bank downgraded its forecast for growth in two-thirds of the world's countries.
The United States joined Israel to attack Iran on Feb. 28. S. 1% in 2025. U.S. Economy is benefiting from big tax cuts and booming investment in artificial intelligence. 6%. 4% the bank had forecast for this year in January.
7% in 2025. 4% in 2025. U.S. And Israeli attacks. Energy prices rocketed.
The war has disrupted trade in fertilizer exported through the Persian Gulf. That could lead to food shortages as farmers skimp on fertilizer to avoid higher costs.
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