Brief
Allianz economist says GCC conflict trims 1% of regional GDP each month
Subran urged GCC nations to seek international financing and highlighted AI's role in global trade at Dubai's Rise summit.
By Felo News Desk · Published
Allianz chief economist Ludovic Subran told attendees at the Rise summit in Dubai that the ongoing US‑Iran war is costing Gulf Cooperation Council economies the equivalent of one percentage point of GDP each month.
What happened
Speaking at the Dubai World Trade Centre, Subran said the conflict, which began on 28 February, has already lasted seven months and is creating a monthly deficit for the region. He warned that without a clear investment pathway, the GCC could see cumulative losses that strain public finances.
What the reports add
Subran highlighted three conditions international investors need before committing more capital: a clear policy direction, bankable projects, and a partner to co‑invest. He linked these requirements to the GCC’s Vision 2030 plans, saying the region is offering the needed framework.
What was said
"I'm here to show that this region has actually already, seven months into the conflict, shown that they are resilient," Subran said, according to Khaleej Times. He added, "What this region wants to see is a clear path, very bankable projects, someone to invest alongside, and a clear direction." He also noted that Vision 2030 provides that direction.
How it came about
The remarks came during the Rise summit, an annual gathering of regional business leaders and policymakers. Subran’s comments follow earlier Felo News coverage of GCC diplomatic tensions, including the postponed GCC‑Iran meeting in Salalah (see Oman postpones GCC‑Iran Strait of Hormuz meeting), which underscored the broader instability affecting the Gulf economies.
Key facts
- The US‑Iran war is costing GCC economies the equivalent of 1% of GDP each month. (khaleejtimes.com)
- Allianz chief economist Ludovic Subran called for a clear policy path, bankable projects, and co‑investment to attract international capital. (khaleejtimes.com)
- Subran said the conflict has lasted seven months and the region has shown resilience, according to his remarks at the Rise summit. (khaleejtimes.com)
Sources
- [1] khaleejtimes.com — originally reported as “Regional conflict costs GCC one percentage point of GDP a month: Top economist”
