The GDP of the countries of the Middle East will shrink by more than 14 percent by 2050 due to the lack of fresh water. This is the conclusion made by the experts of the World Bank. Briefly about the research they carried out is reported by The Telegraph.
Scientists' forecast is valid if the countries of the Middle East do not achieve an increase in precipitation in the region (for example, by creating clouds or erecting a mountain). The latter, meanwhile, is associated with an increase in average annual temperatures (global warming).
The expert report says that the shortage of fresh water will also increase in the United States and Western Europe, but will not have significant negative consequences for the economy. On the other hand, resource scarcity could slow GDP growth in India and China.
States located in the Sahara and below the Sahel belt will also be hit hard. In these regions, a shortage of fresh water could lead to a drop in GDP by 11 percent. The countries of Central Asia will experience a similar impact of global warming.
The World Bank called the redistribution of resources from one region to another the most effective way to prevent the economic consequences of global warming. The financial institution's experts believe that water is one of the resources that should be priced and sold.
More than 1.6 billion people currently face the problem of freshwater shortages. At the end of April 2016, 175 states of the world signed an agreement providing for the reduction of greenhouse gas emissions. Scientists believe this will help slow the rate of global warming.