Story perspectives

Iran-Israel War Slashes Global GDP, Spurs Fertilizer Shortage

4/23/2026

Summary

Story summary

The Iran-Israel conflict is estimated to have erased 0.5-0.8 % of global GDP and could push over 30 million into poverty.
UN development chief Alexander De Croo warned that shrinking humanitarian funding forces agencies to limit aid in Sudan, Gaza and Ukraine.
He said ships in the Strait of Hormuz have created fertilizer shortages that reduce productivity and threaten 2026 crop yields, and that the war can undo decades-long development in eight weeks.

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Story summary

The Iran-Israel conflict is estimated to have erased 0.5-0.8 % of global GDP and could push over 30 million into poverty.
UN development chief Alexander De Croo warned that shrinking humanitarian funding forces agencies to limit aid in Sudan, Gaza and Ukraine.
He said ships in the Strait of Hormuz have created fertilizer shortages that reduce productivity and threaten 2026 crop yields, and that the war can undo decades-long development in eight weeks.