Egypt dedicates to subsidize exports in FY 2023/24

The three-year program is set to be effective as of July 1st

Staff Writer, Arab Finance

March 27, 2023

PHOTO

Arab Finance: The Egyptian government has approved the new export subsidies program for fiscal year (FY) 2023/2024 at an estimated cost ranging between EGP 28 billion and EGP 30 billion, the Cabinet’s Spokesperson Nader Saad revealed on March 26^th.

This marks a remarkable surge from the current fiscal year’s budget for the export subsidies program amounting to EGP 8 billion.

The three-year program is set to be effective as of July 1^st.

The new program’s automated system will be launched in July as well.

For his part, Prime Minister Mostafa Madbouly said that the government targets preparing a solid program to support and boost Egyptian exports as well as back exporters to reach all global and regional markets.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.