5.5 billion pounds to support exporters and producers.. 8 measures to reduce burdens on citizens
On a related level, Dr. Hala Al-Saeed, Minister of Planning and Economic Development, said that there are 3 important indicators when setting economic policy, represented in achieving sustainable economic growth, appropriate levels of employment, and stability in the general level of prices.
Shrouq
The Egyptian government seeks to support business owners and facilitate the participation of the private sector in economic development.
This was evident in the economic conference that was held about a month ago under the auspices of President Abdel Fattah El-Sisi, as well as the Global Climate Summit, which witnessed the signing of agreements worth hundreds of billions of dollars.
Measures to support exporters and producers
In urgent steps to facilitate procedures for exporters and producers, Dr. Mohamed Maait, Minister of Finance, said during the eighth CEOs Thoughts Conference, which is organized by Al Mal GTM, that an additional 5.5 billion pounds will be made available to support exporters and producers.
He added that exemptions were provided for the industrial sectors from the real estate tax for a period of 5 years, at an amount of about 4.5 billion pounds
Maait indicated that EGP 37.5 billion has been paid to more than 2,500 exporting companies over the past two and a half years.
He explained that the state treasury bears exempting the private sector from 4.5 billion pounds in real estate tax and 6 billion pounds for providing electricity.
Economic policy
On a related level, Dr. Hala Al-Saeed, Minister of Planning and Economic Development, said that there are 3 important indicators when setting economic policy, represented in achieving sustainable economic growth, appropriate levels of employment, and stability in the general level of prices.
She added that, at the end of 2021, Egypt had reached a typical situation with regard to these indicators, and achieved a great balance in macroeconomic policy indicators.
She pointed out that the year 2021 witnessed an average economic growth rate of 7.1%, the unemployment rate reached 7.4%, and the average inflation rate was 5.2%.
She explained that the Egyptian state has taken short-term measures to mitigate the crisis for citizens, in addition to the existence of medium and long-term plans to enhance the ability of the Egyptian economy to face shocks.
Measures to reduce burdens on citizens
Al-Said reviewed the Egyptian state's measures to reduce the burdens on citizens during the previous period, which are as follows:
1- Raise the minimum wage
2- Approval of an exceptional bonus
3- Raising the tax exemption limit from 24,000 to 30,000 pounds
4- Continue to support the targeted families with ration cards
5- Not to increase any fees for citizens.
6- Increasing cash support in the number of beneficiaries of Takaful and Karama, from 4.1 million families to 5 million families.
7- Pumping a wide range of commodities into the market at discounted prices.
8- Increasing private investments in infrastructure, to stimulate growth and employment rates.
