The Egyptian government is allocating 800 million pounds to pay off the arrears of export subsidies as part of the export support programme, according to Prime Minister Moustafa Madbouli. He added during a press conference that the government pays great attention to boost Egyptian exports. Madbouli further noted that the government would conduct an annual review of the procedures of implementing the new export support programme to guarantee its efficacy in boosting exports. Egypt has assigned an amount of 6 billion pounds for the new programme during the current fiscal year, he added. The new programme aims to enhance the added value of Egyptian exports through developing shipping and logistics processes and focusing on forums and trade missions The government has agreed an initiative to pay off 10 percent of the previous arrears of export, Madbouli noted.
