Arab Finance: The government allocated the highest budget ever for export during the current fiscal year (FY) at EGP 45 billion, Minister of Finance Ahmed Kouchouk said.

This aligns with the state’s efforts and initiatives to support exporters. This includes the ‘Instant Cash Payment’ initiative, which benefited approximately 3,000 exporting companies, with a total value of EGP 70 billion.

Kouchouk and Prime Minister Mostafa Madbouly followed up on the latest developments of disbursing overdue export subsidies.

He noted that the ministry is scheduled to pay EGP 5 billion to 2,000 exporters on August 7^th, under the export subsidy program.

Exporters will receive 50% of their overdue dues in cash from the Export Development Fund for shipments until the end of June 2024. They can send their requests during the period between August 17^th and September 4^th.

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