$27.5 billion.. Egypt's exports in 2022 with support of the state
2.5 billion pounds will be disbursed, the second batch to 584 companies, representing the rest of the exporting companies joining the fifth phase of the “immediate cash payment to support exporters” initiative.
Shrouq
Dr. Mohamed Maait, Minister of Finance, confirmed that there is a presidential mandate to continue supporting the export sector despite the extremely difficult exceptional circumstances that the global economy is experiencing.
After the outbreak of the Russian-Ukrainian war, it is putting pressure on the budgets of various countries, including Egypt, However the current global economic crises will not hinder the export support process in Egypt.
Although the challenges are complex and the repercussions of the Corona pandemic are intertwined with the negative effects of the war in Europe, including the sharp inflationary wave, and the fight against climate change, which leads to additional financing burdens on emerging economies, at a time when access to international markets to cover the financing gap, More difficult and expensive.
Initiatives to reduce export burdens
The Minister of Finance says that the period from October 2019 until now witnessed the launch of several initiatives to reduce the export burdens due to exporters, The Export Development Fund spent 42.5 billion pounds as “export support” for 2,500 companies.
$100 billion in exports
This step came to provide the necessary cash liquidity to turn the wheel of production, and to enable exporters to fulfill their obligations, which leads to maximizing the country's productive capabilities, expanding the export base, enhancing the competitive strength of Egyptian products in global markets, and realizing the dream of reaching "$100 billion in exports."
The minister explained that, 2.5 billion pounds will be disbursed, the second batch to 584 companies, representing the rest of the exporting companies joining the fifth phase of the “immediate cash payment to support exporters” initiative.
Thus, the number of companies benefiting from this stage reached 1,653 companies, with a total value of 9.7 billion pounds during the past two months.
Initiatives to reduce export burdens
The Minister of Finance says that the period from October 2019 until now witnessed the launch of several initiatives to reduce the export burdens due to exporters, The Export Development Fund spent 42.5 billion pounds as “export support” for 2,500 companies.
This step came to provide the necessary cash liquidity to turn the wheel of production, and to enable exporters to fulfill their obligations, which leads to maximizing the country's productive capabilities, expanding the export base, enhancing the competitive strength of Egyptian products in global markets, and realizing the dream of reaching "$100 billion in exports."
The minister explained that today, Thursday, 2.5 billion pounds will be disbursed, the second batch to 584 companies, representing the rest of the exporting companies joining the fifth phase of the “immediate cash payment to support exporters” initiative the past two months.
