Paper Title :The Impact of Russia-Ukraine War on The Egyptian Economy-Policies and Responses

Author :Dina Rady

Article Citation :Dina Rady , (2023 ) " The Impact of Russia-Ukraine War on The Egyptian Economy-Policies and Responses " , International Journal of Management and Applied Science (IJMAS) , pp. 1-3, Volume-9,Issue-1

Abstract : Abstract - Russia’s invasion of Ukraine in February 2022 and its effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth and forced some countries to adopt fiscal and monetary measures to confront the possibly escalated global inflation rates. Since 2016, Egypt has been performing macroeconomic adjustment and underlying measures to resolve settled in issues and improve business climate. In 2022; the worldwide financial outcomes of the conflict in Ukraine and related sanctions on Russia, alongside continuous Coronavirus related disturbances took steps to worsen the well-established difficultiesconfronting Egypt's economicgrowth, which was growing at a faster rate than expected during fiscal year 2020/2021 due to increase in consumption demand, growing remittances, and contained inflation relative to previous years.To lessen the effects of rising costs, the government announced social mitigation packages that include expanding cash transfer programs' coverage, raising pensions and public sector wages, and enacting tax measures. Additionally, Egypt asked the International Monetary Fund (IMF) for assistance in implementing a comprehensive economic plan to deal with the negative effects of the Ukrainian conflict and solidify the structural reform plans. This paper discusses the impact of the Russia-Ukraine war on the Egyptian economy and the policies and measures taken to confront this impact and help mitigate its consequences. Keywords - Egyptian Economy, Ukraine-Russia, Economic Policies

Type : Research paper

Published : Volume-9,Issue-1

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