The repercussions of the Corona crisis on the global economy and its reflections on the Egyptian economy

For more than two years, the entire world has been facing the repercussions of the spread of the Corona epidemic; And the cracks it caused in the structure of the global economy and national economies, at different levels of progress or backwardness, as no indicator or economic activity escaped from one impact or another, which called for mobilizing and directing international and national efforts to confront and limit those repercussions through many financial, monetary and social policies .

The areas of influence have expanded beyond mere fluctuations affecting the financial markets or stopping the movement of international trade and disrupting supply chains and other negative effects, to reach an advanced degree of slowing the pace of growth and the occurrence of a state of recession unprecedented for years and perhaps decades.

Of course, the Egyptian economy was not isolated from what hit the global economy, as the effects affected all indicators of the Egyptian economy, given the high rate of its exposure to the global economy, and therefore the results of Corona in Egypt came as a natural reflection of the repercussions that afflicted the global economy, perhaps the most important of which is weakness of the proceeds of foreign exchange realized to Egypt through many tributaries such as tourism, returns of workers abroad, Suez Canal revenues, foreign investment and exports of various commodities.

Thus, this study comes to clarify those repercussions and their repercussions on the performance of the Egyptian economy and the outcome of Egypt’s foreign exchange earnings due to those negative repercussions. The study has concluded with a number of results and recommendations aimed at limiting these repercussions, remedying their consequences, and preparing, at the global and local levels, for similar crises that could arise in the future.