Egypt fully funds export rebate programme for first time with EGP 45b allocation

The Egyptian government has, for the first time, fully financed the export rebate programme from the state budget, allocating 45 billion Egyptian pounds this year to boost exports and strengthen industrial competitiveness, Finance Minister Ahmed Kouchouk said on Monday.

Speaking at a joint conference with Investment and Foreign Trade Minister Hassan El-Khatib, organised by the Engineering Export Council of Egypt, Kouchouk said the new programme reflects “a strong commitment to supporting exporters” and marks an unprecedented step in government-led export promotion.

He added that exporters have already begun receiving payments, with 50 per cent of arrears settled in cash and the remaining half offset against government dues owed to the finance, insurance, and energy sectors. A flexible budget has also been introduced this year to incorporate additional proposals from the export community.

Kouchouk also announced that the government plans to revise the solidarity contribution mechanism to make it fairer and more responsive to business needs. He noted that the state budget will continue to cover the difference in universal health insurance contributions on behalf of the business community to ease financial pressure on companies.

The ministers reaffirmed that strengthening the private sector’s role in driving growth remains central to Egypt’s economic strategy, with export promotion and industrial expansion viewed as key levers of sustainable development.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser