Egypt pays LE6B dues to exporters during 2019/20 – Egypttoday

Egypt pays LE6B dues to exporters during 2019/20 – Egypttoday

Egyptian currency_Reuters





CAIRO - 20 July 2020: Up to LE 6 billion were spent from the state budget to the Export Development Fund during the fiscal year 2019/2020 to return the late export burdens of the exporters according to the presidential mandates, Minister of Finance Mohamed Ma'it said Monday.

Ma'it explained in a statement, that this came in the manner that helped pay the late dues of 1,667 exporting companies, and provide them with cash, especially in light of the Coronavirus crisis, by what they can pump into production and retain employment with full commitment to all precautionary measures and preventive measures to ensure continued results of economic reforms, and improve economic performance indicators.

The minister added that the state is committed to returning the late export burdens of exporters since 2012, and the government has made tangible progress in this regard, with fruitful cooperation between the ministries of finance, trade and industry.

Ma'it indicated that LE 7 billion has been allocated to support exports in the budget for the current fiscal year 2020/2021, so that funds continue to be available every month to the Export Development Fund so that it can pay the arrears due to exporters