Egypt's e-payment, collection services record EGP 2.5T in 11 months: Maait
Updated 6/23/2024 11:00:00 AM
Arab Finance: The value of e-payment and collection services in Egypt has reached EGP 2.5 trillion in the first 11 months of fiscal year (FY) 2023/2024, Minister of Finance Mohamed Maait stated on June 23rd.
This is compared to EGP 2.1 trillion over the corresponding period last FY.
Customs e-proceeds amounted to EGP 284.3 billion from July 2023 to May 2024, marking a 38% annual increase from EGP 205.8 billion, the minister noted.
He added that the value of tax e-collection transactions recorded EGP 613.1 billion in the 11-month period, up 16% as compared to the same period last FY.
Additionally, the collection service through government points of sale (GPOS) reached EGP 60.8 billion, rising by 31% from EGP 46.3 billion in the first 11 months of FY 2022/2024.
Also, the value of e-collection services via Digital Egypt e-platform during the period from July 2023 to May 2024 saw an annual growth of 78% to over EGP 1 billion, compared to EGP 600 million for the same period of last FY, Head of the e-Payment and Collection Unit at the Ministry of Finance Mohamed Fouad said.
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