Magdi, an importer in Egypt where a number of staples and products, such as cereals and oils, are shipped from abroad, has not been able to bring in a single item since the Ukraine war erupted in February.
The Egyptian man, who did not want his real name to be disclosed, is one of the thousands of importers who have borne the brunt of the Russian invasion and the ensuing hard currency crunch in the North African nation.
“Importing is largely on pause,” Magdi tells The Africa Report. “If you have a stock, then you’ll be using it, but this is dangerous since after a while the stock will run out” and various goods will be scarce, he adds.
Inflationary pressures
With Egypt heavily relying on imports, the current circumstances will inevitably lead to higher inflation, which stood at 13.2% in June.
“Egypt imports [a wide range of items, from] raw materials to everything else,” says Alia
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