Exporters want more support as gov’t wraps up latest phase of subsidy program
Gov’t wraps up fourth phase of export subsidy program: Some EGP 261 mn in overdue export subsidies was paid out to more than 130 businesses during the fourth phase of the government’s export subsidy program, which started in November, the Finance Ministry said in a statement. The program allows exporters to receive overdue subsidies in a single payment rather than in installments over four to five years, in return for a 15% haircut.
Exporters want more support to boost exports: More government investment and longer installment periods for industrial plots were among the requests made by exporters during a meeting with Prime Minister Madbouly yesterday, according to a cabinet statement.
US approves USD 691 mn arms sale to Egypt: The US could sell Egypt USD 691 mn worth of missiles after the State Department last week approved the purchase request, the US Department of Defense said in a statement Thursday. The order includes 5k TOW missiles, support equipment and spare parts, as well as technical and logistical support and training.