UN estimates: $186 billion in Middle East losses during one month of military escalation

Abdullah Al Dardari, Assistant Secretary-General of the United Nations, issued strong warnings about the deep and severe economic repercussions resulting from the current military escalation in the Middle East region. The UN official confirmed that the region's countries incurred huge financial losses estimated at about $186 billion during just one month of ongoing military confrontations. Al Dardari explained that these figures reflect the extent of the direct damage that affected vital infrastructure and productive sectors in the region.

During a press conference held in the Jordanian capital, Amman, the Director of the Regional Bureau for Arab States at the United Nations Development Programme indicated that the continuation of fighting exacerbates economic damage at an accelerating pace. He pointed out that current losses represent approximately 6% of the region's total GDP, with strong indications that this value may exceed $190 billion if the conflict continues at its current pace without a horizon for a political solution.

In a geographical breakdown of the crisis, the UN official explained that the Gulf countries are at the heart of the economic storm, where their share of losses is expected to reach $168 billion. In contrast, the Levant region received a significant share of the damage, with estimates reaching $30 billion, which highlights the widening scope of negative impacts that were not limited to direct confrontation areas but extended to include the entire regional neighborhood.

Al Dardari stressed the fragility of the prevailing economic models in the region, warning that non-oil-exporting countries also suffer due to their heavy reliance on remittances from workers abroad and regional aid. In this context, he called for the need to reconsider development paths and search for alternative trade and real economic diversification, especially with the threats facing global energy corridors such as the Strait of Hormuz, through which one-fifth of the world's oil and gas production flows.

On the social level, the UN report warned of severe humanitarian consequences that may result from this economic collapse, as about 3.7 million job opportunities are expected to be lost in various sectors. Al Dardari also warned that the continuation of the conflict could push nearly 4 million additional people below the poverty line, which threatens social stability and increases the complexities of the humanitarian crisis in the region in the long term.

We hope that the fighting stops tomorrow, as every day of delay has negative effects on the global economy.