By Mostafa Adel
Cairo – Mubasher: Egypt’s export value declined 24% year-over-year during July - February 2015/16 to $13.2 billion from $17.4 billion, said a first-hand official, who preferred to be anonymous, at the Egyptian Customs Authority.
During the same period as well, Egypt's petroleum export value also fell to $2.35 million, 41% down from $4 billion a year earlier.
Commodities and small industries’ exports are targetd to be increased by 5% and 10% respectively in FY16/17 budget, the minister of trade and industry, Tarek Kabil, said earlier, adding that Egyptian export subsidy is expected to hit EGP 6 billion during 2016-2017.
Egypt’s Budget deficit widened by 20% in the first eight months of 2015/6, the finance ministry said previously.
