Cairo: Finance Minister Ahmed Kouchouk announced the government's plan to allocate EGP 6 billion for the cash payment of the third tranche of overdue dues to exporters for shipments made before July 1, 2024. Applications from exporting companies seeking to benefit from this initiative will be accepted from August 16 to October 1, with disbursements scheduled for October 22.

According to State Information Service Egypt, Kouchouk stated that over EGP 80 billion has been paid to exporters over the past six years. The government aims to clear all outstanding dues within two years. The current budget allocates EGP 48 billion to expedite export support, with export subsidies reaching EGP 28 billion in the fiscal year 2025/2026, reflecting a 55% annual growth.

Kouchouk highlighted ongoing coordination with the Ministry of Investment and Foreign Trade to enhance the export system and sector. The government is focused on providing liquidity to exporters to bolster the growth and competitiveness of Egypt's goods and services exports. There is an aim to substantially increase annual allocations for export support to open new markets for Egyptian products.

Nevine Mansour, the minister's adviser for economic institutions' relations, reported that EGP 12.6 billion in cash was paid to approximately 2,500 exporting companies during the last fiscal year. This amount covered the first and second tranches of overdue dues, paid in cash during the fiscal year 2025/2026, rather than over two fiscal years.