US strikes on Iran could cost the American economy $210 billion
Kyiv • UNN
Kent Smetters, director of the Penn Wharton Budget Model, stated that US strikes on Iran could cost the American economy up to $210 billion. The lowest damage figure is $40 billion.
US strikes on Iran could cost the American economy $210 billion. This is reported by UNN with reference to Fortune.
Details
This figure was announced by Kent Smetters, director of the Penn Wharton Budget Model (PWBM) and one of the country's leading financial analysts. According to him, the smallest amount of damage that the American economy could incur due to strikes on Iran is $40 billion. He added that this is the lowest estimate of direct budget expenditures in a range that reaches $95 billion.
To direct military expenditures, Smetters added economic losses for the United States alone of approximately $115 billion. At the same time, there is a wide range of uncertainty from $50 billion to $210 billion, the publication states.
The Penn Wharton Budget Model assumes a greater upside risk in the Epic Fury scenario (the name of the operation against Iran - ed.). Direct taxpayer costs of $65 billion are the likely cost of direct military operations, as well as equipment replacement, ammunition, and other materials.
Recall
According to the Institute for the Study of War, Iran's threats to ships in the Strait of Hormuz caused a rise in global oil prices, which could increase Russia's revenues. Brent crude oil prices reached $82.37 per barrel on March 2.