ESCWA: The war in Sudan threatens Arab economic stability

March 28, 2024 (PEN) The United Nations Economic and Social Commission for Western Asia (ESCWA) warned that the continuation of the war in Ukraine, the war on Gaza, and the raging conflict in Sudan continue to create a state of uncertainty in the global economy and the economies of the Arab region, leading to a slowdown in growth. .

The UN report stated that the worsening conflict in Sudan makes the economic prospects in the Arab region largely unclear and bleak, and the survey suggests that the gross domestic product will contract to reach negative 3.8% on average in the period 2023-2025 due to the tight financial space in the least developed countries and social conditions. and difficult economic. However, the fiscal deficit is expected to improve, declining from 3.2% of GDP in 2023 to 2.6% in 2024 and 2.3% in 2025.

The conflict that has been ongoing for more than a year in Sudan has led to a catastrophic deterioration in the economic and humanitarian conditions.