Parliament Discusses Increasing “Exports Support” to EGP 4.5bln

Alaa El Bahiy –President of the committee of the exportation, importation, and internal trade of Egyptian businessmen Association- said that a meeting is scheduled to be held by Export Council of Foodstuffs with parliament committee of Plan and Budget, in order to discuss the proposal of increasing the financial support directed to exports to become 4.5 billion EGP within the next year.

During the meeting of the exportation, importation, and domestic trade committee, El bahiy added that the plan to support Egyptian exports has acquired 60 million EGP by the end of last year, pointing out that this ratio is less than the ratios offered by other countries such as Turkey and Malaysia, as it reached up to 25% there.

He explained that the most remarkable wrong decision -which faced Egyptian exports during the last year, 2011- is the reduction of exportation financial support in the state’s general budget from 4 billion EGP to only 2.5 billion EGP.