“Our subsidiary is completely at a loss”: how war in Iran is already costing our economy 2.5 billion euros. And the biggest blow is yet to come

The ongoing conflict in the Middle East is already costing our economy 2.5 billion euros this year. And the longer the situation continues, the greater the damage. Bart Van Craeynest, chief economist at Voka, explains where that immense figure comes from and why the biggest blow may still be yet to come. The situation is gradually becoming dire for some companies, as entrepreneur Philippe Wauters van Belven, who is personally experiencing the crisis, testifies. “Our deliveries are almost made at a loss, purely so as not to lose Arab customers.”

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