The Cabinet on Thursday 18/8/2022 approved a request by Finance Minister Mohamed Maait to implement the fifth phase of an initiative aimed at paying EGP 10 billion overdue dues to exporters.

The decision was made during a Cabinet weekly meeting under Prime Minister Mostafa Madbouli.

In this regard, the finance minister said the Cabinet’s approval comes to meet the demands of several exporting companies, amid the current difficult economic conditions caused by the repercussions of the Russian-Ukrainian crisis.

Maait added this decision is meant to support manufacturers and exporters, through providing them with the necessary liquidity to help them overcome the current economic crisis.

Source: State Information Service Egypt