All the world has been affected by the Ukraine-Russian war. However, Egypt is worst hit as it imports 30% of wheat from these two warring countries. Experts said that the worse will come by end of the year.
Dr. Khaled Alshafaie, the Egyptian economist, said that the crisis caused by the Russian-Ukrainian war has impacted all countries.
He continued: “It resulted in a huge boom in the prices of food commodities and raised the prices of energy and oil.”
Also, everything that contributes to the industry and transportation have been affected. The high operating costs, in addition to the prices of food commodities around the world, are increasing continuously.
He added that the level of inflation has reached unprecedented levels in all countries.
“Egypt was able to mitigate the...