Trump says ceasefire in Syria is holding despite few skirmishes    Johnson faces perilous Brexit ratification after Brexit deal vote blocked    China's economic growth could fall below 6% in 2020: IMF    Salah returns to Liverpool's trainings on Monday, says Egypt's coach    Lebanon set to cut ministers' pay in bid to defuse protests    Banks weigh on Saudi stocks ; other Gulf mixed    Match abandoned in latest blow to Mexican football    Tennis: Murray beats Wawrinka to win first title since hip surgery    Spanish PM to visit Barcelona, criticises regional chief    EBRD bank praises Egyptian reforms efforts – official    Sisi: Russia-Africa Summit reflects historic friendship ties    Parliament committee to address problem of stray dogs in Egypt    Shell Egypt to sell assets in Western Desert to focus on offshore exploration    WHO hails 'triumph' as Ebola vaccine gets European green light    Current and ex smokers may lower lung cancer risk with exercise    Lebanon agrees final budget with no taxes to appease protesters    Egypt's Sisi praises SCC's role in protecting justice, rights, freedoms    France's President Macron receives Egypt's Coptic Pope Tawadros II at Elysee    Egypt inks deal with Euroclear Bank to upgrade public debt management    Egypt's Cooperative Insurance Society to cover NGOs clients' loans    After a young pupil dies of meningitis in Egypt, tips to help prevention    Egypt's PM urges US's ADTRAN Inc. to invest in communications equipment    French President Macron receives Egypt's Coptic Pope Tawadros II at Elysee    'Passports should be valid for six months,' Egypt's foreign ministry advises citizens planning travel abroad    Grand Nile Tower Arts & Cultural Centre launches second round    Egypt's coach Hossam El-Badry satisfied with winning start despite technical problems    Luxor's new discoveries    Moroccan film Nomades scoops awards in Alexandria Film Festival    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Farwell to Egyptian comic actor Talaat Zakaria    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt allocates EGP 6bn to stimulate exports in FY 2019/20
Country's non-oil exports record $13.037bn in 1H19, says GOEIC
Published in Daily News Egypt on 18 - 08 - 2019

Egypt has allocated EGP 6bn in the budget of the fiscal year (FY) 2019/20 to stimulate exports through a new programme to solve the challenges faced by Egyptian exports, according to the Minister of Finance Mohamed Moeit on Saturday.
The allocated amount is divided into EGP 2.4bn in cash assistance, EGP1.8bn to be deducted from the exporting companies' obligations to the Ministry of Finance, and EGP1.8bn from the allocations of stimulating exports to support infrastructure needed for exports, in order to ensure the presence of the local component in various industrial sectors.
On Friday, the General Organization for Export and Import Control (GOEIC) stated in its report that Egypt's non-oil exports recorded $13.037bn during the first half (H1) of 2019.
The GOEIC has further explained that the agricultural export council topped the list of exporting councils which witnessed the increase, explaining that the agricultural exports hiked to $1.575bn during the first six months of 2019, up from $1.446bn during the same period last year.
"Followed by the exports of the Egyptian Export Council for Printing, Packaging, Paper, Literary, and Artistic Work, with the exports of books and artistic work hiked to $7.156m during the period from January to June 2019, up from $6.67m during the same period in 2018," according to the report.
The report noted that the exports of the Food Export Council came third, in which the exports of food industries recorded $1.559bn during the H1 of 2019, compared to $1.469bn during the same period of last year.
Then came in the fourth place the exports of the ready-made garments in which it rose to $800m during the H1 of 2019, then came in the fifth place the exports of medical industries reached $261m during the same period.
On the other hand, the minister said that the government has allocated also EGP 5bn in the budget to establish 13 industrial complexes.
He assured that the government is paying special attention to the small, medium and micro enterprises, noting that the new draft law for the small, medium, and micro enterprises, includes tax and customs incentives; explaining that this vital sector plays a great role in supporting the national economy.

Clic here to read the story from its source.