Prime Minister Moustafa Madbouli followed up on during a meeting Thursday with Minister of Finance Ahmed Kouchouk status of overdue payments owed to exporters.
The minister of finance highlighted mechanisms for disbursing payments to approximately 2,000 companies, totaling around LE5 billion as the first installment of the 50% cash portion under the new mechanism.
The initiative aims to settle overdue payments owed to exporters by the Export Development Fund for shipments made up until the end of June 2024.
The disbursement is scheduled to begin next week, specifically on August 7, reflecting the government’s ongoing commitment to settling all outstanding dues to exporters over four consecutive fiscal years, starting with the current fiscal year.
The minister said the targeted time frame for processing export subsidy claims – once all required documents are submitted – is just three months.
He added, “Due to strong demand from exporters, the window for receiving new applications from companies holding certificates from the Export Development Fund will reopen between August 17 and September 4, 2025.”
During the meeting, the finance minister also said, the current fiscal year features the largest export support budget in the history of the state’s general budget, reaching EGP 45 billion.
All drives come in line with successful efforts launched in close cooperation with the Ministry of Investment and Foreign Trade, that has started in 2019 with the introduction of several initiatives to support exporters, Kouchouk said.
Among the most prominent of these is the “Instant Cash Payment Initiative”, implemented in seven phases, from which around 3,000 exporting companies have benefited, with a total value of approximately EGP 70 billion, he added.
