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The Government has Disbursed EGP 1.4bn in Overdue Export Subsidies in 1Q2020-2021 so Far

16/09/2020

The government has disbursed EGP 1.4bn in overdue export subsidies in 1Q2020-2021 so far. Payments made over the past 10 weeks brings the total amount of subsidies disbursed since the beginning of FY2019-2020 to more than EGP 7bn and is expected if continued at this rate to see the government finish paying its arrears within three years. The Export Subsidy Fund is paying out EGP 600mn each month over four EGP 150mn weekly payments. The government allocated EGP 7bn towards subsidy payments in its FY2020-2021 budget, up from EGP 6bn the year prior. (Enterprise)

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