15 Sep 2021

The Minister of Finance stated that the government is eager to implement structural reforms that encourage investment and private sector activity. The Minister said that by enhancing the private sector’s role in economic development, growth will be more sustainable and there will be higher employment levels.

The Minister highlighted the government’s export incentives, of which the financial component amounts to EGP8bn in FY21/22. The Export Development Fund has already paid out EGP28bn of overdue subsidies to exporters, covering the period from March 2020 to June 2021. Among the current export incentives are EGP500mn for the automotive sector alone.

(Source: Zawya (English), al-Ahram (English), Daily News Egypt (English), al-Maal, Mubasher, Hapi Journal, al-Shurouk)