FinMin to disburse late export subsidies over the coming few years

FinMin to disburse late export subsidies over a period of years: The Finance Ministry plans to disburse overdue payments from the Export Subsidy Fund over a period of years, ministry sources said. The source did not state why they had been held up, but a number of industry-specific export associations have been lobbying for the tap to be turned back on. Even the fund’s MD, Amany El Wessal, had called for payments to start as soon as possible in a hearing at the House of Representatives. The ministry also plans to raise the fund’s budget to EGP 4 bn in FY2018-19 from EGP 2.6 bn this fiscal year, the sources noted.