Qatari Finance Minister Ali bin Ahmed Al-Kuwari said that the major economic effects of the war in Iran will appear within a month or two, warning that some countries may find themselves unable to provide the energy needed to light their cities.
The minister pointed out that the economic repercussions of the war with Iran would be more severe if the Strait of Hormuz was not reopened, stressing that the current high energy costs are only “the tip of the iceberg.”
Al-Kuwari stated on Wednesday that the global economy is about to feel the full economic impact of the war with Iran, but at the same time he stressed that Qatar’s financial situation is capable of withstanding these challenges for at least a year.
In the context of a discussion organized by the International Monetary Fund in Washington, he added: “The full impact is coming and is not far away,” and described the current rise in global prices as just “the tip of the iceberg.”
He continued, saying: “I believe that within a month or two you will see a huge economic impact globally.”
He also added: “Very soon you will face a problem with the availability of energy and not just with the prices. So, even if you are able to pay for it, you will not be able to obtain it, which represents a very big problem.”
Al-Kuwari also warned of the risk of a sharp decline in fertilizer production and supplies from the region, which could cause the loss of growing seasons around the world, and thus a food crisis.
