Egypt pays EGP2bln of export subsidies in two months

Egypt has disbursed  arrears more than 2 billion Egyptian pounds ($123.5 million) of export subsidies during April and May owed by the Exports Development Fund.

This brings the total amount of paid export subsidies owed by the Export Development Fund among export support programme from July 2019 to the end of last May to 5.2 billion pounds, minister of finance, Mohamed Maait, said.

During June, the finance ministry aims to disburse more than 1 billion pounds in export subsidies in a bid to help exporters withstand the current crisis.