(MENAFN) According to Egypt's Prime Minister Moustafa Madbouly, as stated by TASS, the nation’s economy has suffered losses of up to 130 billion Egyptian pounds (USD7 billion) as a result of the Ukrainian disaster.
On Sunday, Madbouly claimed that the indirect costs of the events in Ukraine are projected to be more than USD18 billion, “the aftermath of the war has placed a huge financial burden on us and we have invested 130 billion pounds to cover rising prices for strategic goods.”
Based on the Prime Minister, the present war amongst Russia and Ukraine has driven up costs for essential commodities, posing significant difficulties to Egypt's economy.
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