Egypt working on new incentive program to boost exports

Prime Minister Moustafa Madbouly has begun discussions with export councils on a new, and more efficient, incentives program the Trade Ministry is working on to replace the current one, according to a Cabinet statement. Madbouly will begin next week holding separate meetings with the councils amid efforts to boost exports to tighten Egypt’s trade deficit, and has instructed Trade Minister Amr Nassar to draft the new incentive program a month. The government has been looking at alternative solutions amid delayed export subsidy funds and complaints from traders.