Egypt pays EGP 6bn overdue subsidies in FY19/20 as part of export support programme

Egypt disbursed 6 billion Egyptian pounds worth of overdue export subsidies to 1,667 companies during fiscal year 2019/2020 as part of export support programme, the country’s finance minister Mohamed Maait said.

This is in line with the country’s efforts to help exporters withstand the current crisis, Maait added in a statement on Monday.

The country has been committed to paying overdue export subsidies owed by the Export Development Fund since 2012 in collaboration with the Ministry of Trade and Industry.

Maait further revealed that the government allocated EGP 7 billion to support exports during FY20/21.