The Export Subsidy Fund has so far only ratified one of three mechanisms through which it will disburse export subsidies, head of the Trade Ministry’s trade agreements sector Amany Al Wesal said. The ratified mechanism gives tax breaks to importers. The two other mechanisms of the framework, which involve cash payments to exporters and investments to build up the country’s export capabilities, are still under study. Reports emerged earlier this week that Egypt’s exporters are awaiting clarity on how the government is planning to implement the new export subsidies program, which was announced in July.

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