Egypt supports 560 exporters with EGP 1.9B on August 8th

Updated 8/8/2024 11:29:00 AM
Egypt supports 560 exporters with EGP 1.9B on August 8th

Arab Finance: The Ministry of Finance will disburse EGP 1.9 billion on August 8th to support 560 export companies under the seventh phase of the immediate cash payment initiative to repay arrears owed to the Exports Development Fund, Minister of Finance Ahmed Kouchouk announced.

The ministry has disbursed around EGP 13 billion in export support from June to August, Kouchouk noted.

This brings the total export subsidies disbursed to exporters to around EGP 66.9 billion since October 2019, the minister revealed.

He added that the government allocated EGP 23 billion in the fiscal year (FY) 2024/2025 budget to boost exports.

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