16:57 - 25.10.2023

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October 25, Fineko/abc.az. The countries of the Middle East, including Egypt, Lebanon and Jordan, are facing economic downturn because of Palestinian-Israeli conflict, ABC.AZ reports, quoting IMF managing director Kristalina Georgieva.

"First of all, we are concerned about what is happening in the epicenter of the conflict - the tragic loss of life, but also the decline in economic activity," she said.

In her opinion, the current conflict will cause "long-lasting consequences" for the economy of not only Israel and Palestine, but also the entire region.

According to Georgieva, Egypt, Lebanon and Jordan may feel the impact of the conflict, in particular due to reduction in tourist and investment flows, decrease in business activity, increase in the cost of insurance and influx of a large number of migrants.