Middle East Conflict Threatens Global Economy: South African President
20:29 19.03.2026 (Updated: 21:09 19.03.2026)
© Sputnik . Grigory Sysoev
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Middle East Conflict Threatens Global Economy: South African President
According to Cyril Ramaphosa, the Middle East conflict is likely to seriously damage global economies by:
driving up energy prices;
disrupting supply chains;
increasing living costs;
reducing growth prospects.
South Africans need to reform and transform the economy while identifying measures to mitigate the conflict's impact, he noted.
South Africa has faced a diesel shortage, prompting government consultations with fuel industry representatives to secure uninterrupted supplies of petroleum products and natural gas. The country's strategic oil reserves stand at a critically low 7.7 million barrels—barely enough to cover domestic demand for two weeks.
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According to Cyril Ramaphosa, the Middle East conflict is likely to seriously damage global economies by:
driving up energy prices;
disrupting supply chains;
increasing living costs;
reducing growth prospects.
South Africans need to reform and transform the economy while identifying measures to mitigate the conflict's impact, he noted.
South Africa has faced a diesel shortage, prompting government consultations with fuel industry representatives to secure uninterrupted supplies of petroleum products and natural gas. The country's strategic oil reserves stand at a critically low 7.7 million barrels—barely enough to cover domestic demand for two weeks.
Subscribe to @sputnik_africa
Sputnik Africa | X
