Egypt’s exporters awaiting clarity on new export subsidies program

Egypt’s exporters are awaiting clarity on how the government is planning to implement the new export subsidies program, Ihab Abdel Zaher, member of the export council for textiles and readymade garments said. The new program promises to disburse EGP 6 bn per year in export subsidies, and was supposed to have started from the onset of the current fiscal year. The export councils are, however, saying the program has still not taken flight and they still do not know how to calculate their export-related expenses under the framework. We have a rundown here on the new framework, which the government announced in July.