Egypt's imports bill rises $4.5b per month due to Russia-Ukraine conflict

Egypt’s Finance Minister Mohamed Maiit said the country’s imports bill increased to $9.5 billion per month as a result of the Russia-Ukraine conflict, compared to $5 billion beforehand, state news agency (MENA) reported on Monday.

Egypt has experienced increasing price pressures in recent months and devalued its currency by 14 per cent in March after facing economic headwinds from the war in Ukraine.