Cairo: Government Support for Exporters
The Egyptian Ministry of Finance has announced that it has paid out a total of 54.5 billion pounds in support to exporters as part of the immediate cash payment initiative. Despite the current economic challenges, the ministry is working hard to increase exports and reach a target of 100 billion dollars.
Dr. Mohamed Maait, Minister of Finance, confirmed that the seventh phase of the initiative witnessed an impressive turnout with over 1,400 exporting companies applying to join. He added that dues for these companies would be disbursed soon.
This announcement highlights the importance of government support for exporters in boosting their businesses and promoting economic growth in Cairo. As such, it is crucial for policymakers to continue providing financial assistance and incentives to encourage more companies to participate in international trade.
It is worth noting that this initiative comes at a time when many countries are facing similar economic challenges due to the global pandemic. Thus, Egypt’s efforts to support its exporters are commendable and could serve as a model for other nations looking to promote economic recovery.
Overall, this announcement underscores the need for continued government support for exporters in Cairo as they play a critical role in driving economic growth and job creation in the country.
