{"id":585777,"date":"2023-04-30T00:00:00","date_gmt":"2023-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/"},"modified":"2023-04-30T00:00:00","modified_gmt":"2023-04-30T00:00:00","slug":"govt-to-hand-out-another-egp-10-bn-in-export-subsidies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/","title":{"rendered":"Gov\u2019t to hand out another EGP 10 bn in export subsidies"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">The government is set to launch the sixth phase of its export subsidy <\/span><span style=\"font-weight:700\">program<\/span><span>, <\/span><span>through which it plans to pay out some EGP 10 bn worth of overdue subsidies to exporters, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0HX8hyPmxc1yfwaWvVERSnKfD7qx2dcsNi5wyk8z5XceTyc6yPeFv9SMBJCQZVXhxl\" style=\"\">Finance Ministry<\/a><\/span><span> statement. Cabinet last week <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/40ExJRP\" style=\"\">approved<\/a><\/span><span style=\"font-weight:400;\"> the sixth phase of the program. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The timeline:<\/span><span style=\"font-weight:400;\"> Companies who have their documents ready can apply in a first phase from 7-11 May and will receive their payments on 5-6 July. Those that are still in the process of preparing their documents can apply between 17-31 May and will receive their subsidy payments on either 19-20 July or 2-3 August.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER-<\/span><span> The government in December <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/700c8f08-d61a-47f2-b0e5-7cb9d98e2056\" style=\"\">wrapped the fifth phase<\/a><\/span><span style=\"font-weight:400;\"> of the program, which allows exporters to receive overdue subsidies in a single payment rather than in installments over four to five years, in return for a haircut. Under the program, the Export Development Fund has paid out a total EGP 42.5 bn in subsidy arrears.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More export subsidies coming:<\/span><span style=\"\"> A <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a9911fa-f611-4c6c-baf3-e13627e029ef\" style=\"\">new program<\/a><\/span><span style=\"\"> is coming in July that will see the government <\/span><span>up its spend on export subsidies to EGP 28-30 bn, from EGP 8 bn in the current fiscal year<\/span><span style=\"\">, cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eabbb6a3-3a5e-4df9-9910-a489d4ba7f32\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> last month.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sixth phase of the program opens for applications in May<\/p>\n","protected":false},"author":1,"featured_media":585778,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8516],"tags":[72,332,276,98,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-enterpriseam","tag-export-subsidy-fund","tag-finance-ministry","tag-subsidies","tag-trade","wpautop","entry"],"acf":{"mongo_id":"cdd272d7-6a01-4d22-b257-2677a5722f39","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/950.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt to launch EGP 10 bn new phase of export subsidy program","related_issue":[585768],"teaser":"The sixth phase of the program opens for applications in May","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.21ce54b9-c18f-4b17-9a17-681553e835de.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The program allows exporters to receive overdue subsidies in a single payment rather than in installments over four to five years, in\u2026","rel":"","context":"In &quot;SUBSIDIES&quot;","block_context":{"text":"SUBSIDIES","link":"https:\/\/enterpriseam.com\/egypt\/category\/subsidies\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/325.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599223,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/23\/egypt-to-dedicate-egp-6-bn-annually-in-the-budget-for-exports-subsidies\/","url_meta":{"origin":585777,"position":1},"title":"Egypt to dedicate EGP 6 bn annually in the budget for exports subsidies","author":"enterpriseam admin","date":"23 June 2019","format":false,"excerpt":"Government to dedicate EGP 6 bn per year to export subsidies: The government will set aside EGP 6 bn annually in its budget for export subsidies as of FY2019-2020, Vice Minister of Finance Ahmed Kouchouk said, according to a Trade and Industry Ministry statement. The new program will allow increasing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577944,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/egypt-buys-more-russian-wheat\/","url_meta":{"origin":585777,"position":2},"title":"Egypt buys more Russian wheat","author":"enterpriseam admin","date":"11 December 2022","format":false,"excerpt":"COMMODITIES-State grains buyer GASC purchased 260k tons of Russian wheat directly from buyers at USD 354 per ton on a cost and freight basis, according to Agricensus. GASC made at least one other direct purchase of Russian wheat last month shortly after it canceled a tender due to high prices.TRADE-The\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/192.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597245,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/","url_meta":{"origin":585777,"position":3},"title":"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework","author":"enterpriseam admin","date":"21 July 2019","format":false,"excerpt":"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework: The government unveiled the details of the long-awaited new framework for disbursing export subsidies. The new framework would disburse EGP 6 bn per year in export subsidies through the Export Subsidies Fund starting from FY2019-20, according to a statement\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/120.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578204,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/19\/another-export-subsidies-milestone-beni-suef-dry-port-tender-coming-next-year\/","url_meta":{"origin":585777,"position":4},"title":"Another export subsidies milestone + Beni Suef dry port tender coming next year","author":"enterpriseam admin","date":"19 December 2022","format":false,"excerpt":"EXPORTS- That\u2019s a wrap: The government disbursed EGP 2.5 bn to 584 exporters last Thursday to wrap the fifth phase of its export subsidy program, the Finance Ministry said in a statement. The fifth phase of the program saw more than 1.6k exporters receive a total EGP 9.7 bn in\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/394.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568801,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-settles-overdue-export-subsidies-with-31-companies\/","url_meta":{"origin":585777,"position":5},"title":"Egypt settles overdue export subsidies with 31 companies","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"Gov\u2019t settles overdue export subsidies with 31 companies: The trade and finance ministries have signed agreements with 31 foreign and local companies to settle outstanding export subsidy payments, the Trade and Industry Ministry said in a statement (pdf), without disclosing how much the companies were paid. This comes less than\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/53.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=585777"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585777\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585768"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585778"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585777"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585777"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}