Egypt’s Minister of Finance Mohamed Maait said that the government has distributed EGP 957.4 million in export subsidies to 455 exporting companies as part of the fourth phase of immediate payment initiative.
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The second and third tranches of the initiative’s fourth phase will run by the end of February and April, Gamea said in a statement issued by the ministry on Thursday.
A total of EGP 13.2 billion were disbursed to 1,069 companies as part of the initiative’s first phase, whileEGP 4.6 billion were paid to 923 companies in the second phase andEGP1.8 billion were given to about 700 companies in the third phase, she noted.
