Egypt raises fuel prices amid worsening economic crisis ...Kuwait

Egypt's oil ministry has announced a rise in the price of fuel effective on Thursday, as the Arab world's most populous nation struggles with inflation and is sapped dry of dollars. The Egyptian economy was hit hard after Russia's February 2022 invasion of Ukraine unsettled global investors, leading them to pull billions out of the North African country. The war has sent wheat prices spiralling, heavily impacting Egypt - one of the world's largest grain importers - and piling pressure on its foreign currency reserves. In under a year, the Egyptian pound has lost half of its value, propelling annual inflation in the import-dependent country to 26.5 percent in January,

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