N Gage Consulting releases export subsidy program report
Zero clarity on export subsidies: Just two days after Al-Borsa reported what it said was a statement from the Trade and Industry Ministry that export subsidies could nearly double from the EGP 2.6 bn promised in the FY2014-15 budget, Al-Shorouk quotes Mounir Abdelnour as saying the earmark will remain unchanged. “The government has other priorities like healthcare and education,” the minister is quoted as saying, raising the possibility that the earlier story in Al-Borsa represented a trial balloon from the ministry. Mohamed El Sewedy, Chairman of the Federation of Egyptian Industries, is concerned; he said the business community was promised the government would increase the earmarked amount through non-budget sources. Related Reading: N Gage Consulting has background on the export subsidy program, how to tap it, and the debate over doubling it to EGP 5 bn. It’s a free download for Enterprise readers (pdf).