📉 Gulf economies face sharp contractions in 2026 as disruptions to energy production and shipping through Strait of Hormuz outweigh benefits of higher oil

📉 Gulf economies face sharp contractions in 2026 as disruptions to energy production and shipping through Strait of Hormuz outweigh benefits of higher oil prices, IMF forecasts 🛢️ Kuwait projected to shrink 16.7%, Qatar 15.6%, and Bahrain 11.3%, as higher energy prices cannot offset lost production and exports 📈 IMF forecasts strong rebounds in 2027, but warns recovery may not fully reverse economic losses as disrupted trade and energy infrastructure weigh on growth