Egypt’s FinMin: exporters to receive dues for 1st time in same year

Egypt’s Minister of Finance Ahmed Kouchouk announced on Saturday that exporters will receive their dues in the same year 2024/2025, with the first instalment to be paid in January 2025.

This announcement was made during an open dialogue between Kouchouck and the Egyptian Federation of Investors Associations (EFIA), as per an official statement.

The ministry is committed to expanding the impact of financial policies’ on economic, productive, industrial, and export activities, the minister said, adding that it plans to disburse 50 per cent of exporters’ payments in cash over four fiscal years, totalling 8 billion Egyptian pounds annually.

He added that industrial companies would soon receive financing support to enhance production lines. The State treasury will contribute to financing this initiative and cover the interest rate difference to boost production capacity and economic growth.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama