There are multiple concerns surrounding the global economy after the conflict between Russia and Ukraine. This crisis caused new risks to the global economy, as energy prices rose with the beginning of the problem as the price of a barrel of oil exceeded $100 a barrel since 2014, and European natural gas has risen by 62%.
This paper empirically investigates the impact of Changes in energy prices affect economic growth in Egypt and Recognition the negative effects of the Russia-Ukraine war economically on the world generally and on Egypt especially. This study tests the hypothesis, Economic growth in Egypt is adversely affected by the rise in global energy prices.
The study is based on the ARDL model in analyzing the relationship between energy prices and economic growth in Egypt.
The study concluded that the crisis contributed to raising inflation rates and reducing economic growth in the countries of the world, also confusing the plans of all parties to the petroleum and natural gas industry, including producers, consumers, and international companies, and this necessitated a reassessment of their next steps.
As there is a significant correlation between changes in both (oil and gas prices and the global energy index) and economic growth in Egypt during the Ukrainian-Russian crisis, and This crisis caused a decline in economic growth in Egypt and had a significant impact on the availability of foodstuffs during that period.