According to BASF CEO Markus Kamieth, the economic fallout from the Iran conflict is expected to have a dampening effect on the global economy. Speaking to Focus, Kamieth predicted that a decline in growth would be unavoidable across most regions, especially given the already challenging nature of the current year. He added that the conflict and its consequences would remain a major concern for an extended period, potentially affecting things beyond 2026.
Kamieth also forecasted rising inflation, citing the persistent scarcity of oil and gas. Since a large portion of the nation’s energy consumption still relies on these sources, he believes that even if the war were to end tomorrow, prices would remain elevated. This is because, according to Kamieth, the existing system would only normalize very slowly, thereby fueling inflation.
On a more operational note, the BASF chief offered some reassurance regarding his company’s supply chain. He stated that there are currently no supply difficulties, and BASF is well-supplied with key raw materials globally, at least for the first half of the year. Kamieth highlighted that the company’s scale and global structure contribute to its resilience. Furthermore, since BASF itself acts as a raw materials trader, it is inherently equipped to react quickly-a capability that, he noted, benefits its customers.
