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Will the Israel-Hamas war fuel recession?
With the world already facing an economic slowdown, the war may push the world into a recession. In the worst-case scenario of a direct conflict between Israel and Iran, a Bloomberg analysis estimates that oil prices could soar to 150 dollars a barrel. Global growth could drop by one percentage point to 1.7%. A wider war could rekindle global inflation, leaving it at 6.7% next year.
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