Cairo – Mubasher: The Egyptian Ministry of Finance and Ministry of Trade and Industry signed agreements with 41 companies to settle overdue export subsidies.
These agreements came in line with the country’s efforts to support exporters, especially amid the outbreak of the coronavirus (COVID-19), finance minister Mohamed Maait said in a statement on Wednesday.
Each company will receive 30% of subsidies owed by the Export Development Fund or a minimum of EGP 5 million before the end of fiscal year 2019/2020, he noted.
The government has so far paid out EGP 2.133 billion in overdue subsidies from January to April, minister of trade Nevine Gamea said.
She revealed that orders for the e-payment of EGP 2.900 billion to 2,056 companies are being issued.
