【Goldman Sachs: Iran War Could Trigger Worst Recession for Gulf Economies Since the 1990s】On March 16, economist Farouk Soussa from Goldman Sachs Group stated that if the conflict continues into April, causing the Strait of Hormuz to shut down for two months, Qatar and Kuwait's gross domestic product (GDP) could contract by 14% respectively this year. This would be the most severe economic recession for these countries since the early 1990s.