Egyptian expats deposit $800m for car imports – minister

Egyptian expatriates have collectively deposited $800 million to import cars into the country, said Minister of Finance Ahmed Kouchouk at a press conference on Tuesday. This figure represents a significant influx of foreign currency and highlights the growing purchasing power of the Egyptian diaspora,

Over 390,000 expats have registered on the government platform for car imports, with 330,000 having completed the necessary paperwork.

Kojak also provided updates on other economic initiatives, including substantial government spending on food subsidies, fuel support, and export incentives. The minister emphasised the government’s commitment to stimulating economic growth and supporting various sectors.