‘The Last Straw’: The Ukraine Crisis and Egypt’s Economy
The fallout of geopolitical conflict never confines itself to the borders of the states involved, nor does it ever remain a purely military matter. The Russian invasion of Ukraine is no exception.
At the onset of 2022, the global economy was just beginning to pick itself up from the rubble of the heavy toll inflicted by the ongoing coronavirus pandemic, particularly the “high inflation and strained supply chains”. But when Russia launched an invasion against Ukraine in late February, the conflict sowed new chaos and uncertainty, with more disruptions in global trade and supply chains, as well as a rise in energy and food prices.
Within that turmoil, Egypt, too, is faced with deep economic challenges. As policies and programs are implemented and citizens struggle to adjust, questions are raised…