A delegation from the Ministry of Finance of Azerbaijan has participated in the State-Owned Enterprises (SOE) Global Conference held in Seoul at the invitation of the World Bank.

The World Bank expects commodity prices to rise to levels last seen in 2022, affecting not only oil and gas but also other raw materials, according to Bloomberg. Their global prices could increase by an average of 16 percent due to the war in Iran and related disruptions to supplies of oil, metals and fertilisers, World Bank experts say. As for energy commodities, the World Bank forecasts a 24 percent rise in prices. Brent crude, for example, is now expected to average $86 per barrel, up from the previous forecast of $60.

The World Bank stated on Tuesday that energy prices are projected to rise by 24% in 2026, reaching their highest point since Russia’s full-scale invasion of Ukraine four years ago, assuming the most severe disruptions from the Middle East conflict subside by May.

Finance ministers from more than a dozen countries have warned that the ongoing Middle East conflict will continue to affect global growth, inflation, and financial markets—even in the event of a lasting resolution.

The 2029 Annual Meetings of the World Bank Group and the International Monetary Fund will be held in Abu Dhabi, United Arab Emirates, in October 2029, following a vote by the Boards of Governors of both institutions.

Economic growth across the Western Balkans is expected to strengthen over the next two years, supported by rising exports and increased public investment, according to a new outlook from the World Bank.

The Bank of England has warned that the war involving Iran is increasing risks to global financial stability, describing the conflict as a “substantial negative supply shock” to the world economy.

The World Bank Group has approved 135 million U.S. dollars in financing for Senegal to strengthen its health system and expand financial protection for vulnerable populations, according to a statement released on Thursday.