6 measures from the Ministry of Finance to support the economy

The Ministry of Finance revealed a package of measures that are scheduled to be implemented until the first quarter of the fiscal year 2023-2024. 

Offering 32 companies on the Egyptian Stock Exchange

The procedures include offering 32 companies in 18 sectors within the public offerings program on the Egyptian Stock Exchange.

Support productive sectors

expanding the base of beneficiaries of the initiative to support productive sectors at an interest rate of 11%.

5 billion pounds real estate tax

 The Ministry added that the public treasury will bear EGP 5 billion in real estate tax for 19 industrial sectors for 3 years.

subsidize electricity 

 6 billion to subsidize electricity in factories, with a bill to abolish the development fee and customs tax on imports of mobile phone components.

Support for strategic crop cultivation

 The expected measures included supporting the Egyptian farmer and encouraging the cultivation of strategic crops such as fodder, corn, soybeans and oils, along with activating the commodity exchange to reduce the dollar gap in the coming period.

 resilient economy 

the Ministry of Finance said that the Egyptian economy has proven a great deal of resilience despite the repercussions of the Corona epidemic and the Russian-Ukrainian crisis, which contributed to disruptions in supply chains and rising prices globally.