CON­FLICT AF­FECT­ING ECONOMIES

Qatar Today - - BUSINESS > BANK NOTES -

Armed con­flicts in the Mid­dle East and North Africa are not only dev­as­tat­ing the economies gripped by fight­ing, but are sap­ping growth in neigh­bour­ing coun­tries and those host­ing mil­lions of refugees, said the In­ter­na­tional Mone­tary Fund last month.

In a new study analysing 179 con­flict coun­tries since 1970 to quan­tify eco­nomic costs, the IMF found that the drop in eco­nomic out­put in war-torn Syria, Libya and Ye­men in re­cent years has far ex­ceeded the world­wide av­er­age. Af­ter five years of war, Syria's gross do­mes­tic prod­uct is less than half its pre-con­flict level in 2010, while Ye­men lost 25% to 35% of its GDP in 2015 alone. Oil-de­pen­dent Libya saw its GDP fall 24% in 2014, said the IMF.

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