The Wars Effect on Egypt
For months, many countries have experienced countless hardships due to the impact of the Russia-Ukraine war. One country included in this crisis is Egypt. While Egypt is located in a separate part of the globe, the country has undergone many changes ever since. This includes strategic realignments, energy security, and food supplies. Egypt is currently facing a major food crisis due to its dependency on the Russian and Ukrainian wheat supply. Nearly half of the population within Egypt is struggling to fight poverty, yet bread prices have remained unchanged. The government has responded by implementing more onerous import rules, devaluing the local currency, and pushing up interest rates. The Egyptian government must balance the demands of investors, whose money could alleviate the economic crisis, with the risks of implementing measures that could cause even more economic pain for the citizens. Moreover, Egypt’s peaceful relationship with Russia puts the country in a position that opposes the western allies, particularly the United States and European countries. Cairo, the capital of Egypt, receives its military, economic, security, and political support from these western countries. With the ongoing war between Russia and Ukraine, Egypt is put into a tough spot to maneuver in between the conflict.
