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Egypt announces EGP 1B higher provision for exports

Egypt announces EGP 1B higher provision for exports

ArabFinance: Egypt plans to enhance economy by investing in the exports sector, according to the Cabinet’s statement.
Therefore, Mohamed Maait the finance minister announced additional EGP 1 billion to be allocated for this sector in fiscal year 2020/2021 compared to the prior year.
The government also targets boosting the economy through initiatives for supporting local production and consumption, enhancing development in the South, and linking industrial zones with utilities.
It is worth noting that in fiscal year 2019/2020, Egypt had allocated EGP 1.8 billion to support the exports sector. Meanwhile, an amount of EGP 6 billion was earmarked to exports refunds.

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