Gulf Economies Face Worst Shock Since 1990s

2026-03-16 - 19:43

Key Points — Goldman Sachs warns Qatar and Kuwait face 14% GDP contractions if the Strait of Hormuz remains shut through April — their worst slumps since the 1990 Gulf War — Saudi Arabia and the UAE would see GDP drop 3% and 5% respectively, cushioned by alternative export routes but still marking their biggest