Yesterday at the cabinet: The cabinet gave poultry players tax breaks, two executive regulations the greenlight, and approved more funding from the European Bank for Reconstruction and Development (EBRD), it said in a statement following its weekly meeting yesterday.

No real estate taxes for poultry players: Poultry producers are being added to the list of 19 industries getting a three-year holiday from real estate taxes until the end of 2024. The tax holiday for manufacturers was first announced as part of the EGP 130 bn economic support package unveiled by the Madbouly government in the spring and was at the time expected to cost the government some EGP 3.75 bn. The poultry industry has been under pressure for almost a year after import curbs introduced to keep FX in the country caused shortages of feed and surging input costs.

New tourism + fisheries laws come into effect: The cabinet approved the executive regulations for overhauled Tourism and Hotels Act, which simplifies licensing rules for hotels and tourism companies in a bid to improve the business environment and cut red tape in the sector. Ministers also signed off on the executive regulations for the Protection and Development of Lakes and Fisheries Act, which was signed into law last year. The law regulates fish farms and establishes a new authority to protect lakes and fisheries against pollution and land encroachment.

AND- The cabinet greenlit an EUR 1.85 mn grant from the EBRD to upgrade the Cairo Metro Line 2. The EBRD is already loaning us EUR 250 mn to purchase new rolling stock and refurbish existing trains for the line.