Journal Article

Economic and Political Impact of the Russia-Ukraine War on Egypt

Prantner, Zoltan, Al-Nagar, Abdullah Abd Al-Ati

2023

Overview

The launched Russian invasion of Ukraine has had a severe economic and political impact on all over the world. Concerning Egypt, it caused an incredible threat to key wheat imports, some 80% of which have so far come from Russia and Ukraine. Furthermore, the ongoing war is the main reason that the world food prices have generally risen to a 10-year high. Because of the war, the tourism, already hard hit by the COVID epidemic, was negatively affected, although it had hoped to make up the shortfall by the return of 300-400 000/ month Russian tourists. The war in Ukraine has also resulted in depletion of foreign currency reserves in Egypt. The balanced foreign policy of Cairo is also in a delicate position and has a particular interest in supporting the development of the domestic economy. The country is in need of investment and loans from the America and Europe and is also engaged in inevitable cooperation with Russia in food import, energy and military affairs.

• Publisher: مؤسسة كان للدراسات والترجمة والنشر
• Subject: الاقتصاد المحلي / الحرب الروسية الأوكرانية / العلاقات الدولية / العملات الأجنبية / مصر