Egypt's Ministry of Finance announced on Monday plans to begin paying exporters 50 per cent of their outstanding dues in cash for shipments made before the end of June 2024, starting from the fiscal year 2025/2026. The payments will be spread over four years, aiming to boost liquidity and support export activity. Finance Minister Ahmed Kouchouk said the government expects to disburse payments to around 2,400 exporting companies, with a total value exceeding EGP 25 billion, the statement added. He emphasised that this initiative forms part of broader fiscal policies designed to have a comprehensive and positive impact on the economy, helping accelerate growth driven by the private sector. Kouchouk added that the ministry has initiated coordination with the Export Development Fund (EDF) to streamline cash payments. Disbursement is set to commence on August 7 through four banks: The National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and the Export Development Bank (EBank). Neveen Mansour, economic institutions relations adviser to the Minister of Finance, said 50 per cent of exporters' arrears will be settled through a clearance system offsetting debt with various authorities. Since 2019, the government has supported over 2,800 exporters with EGP 70 billion. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
