Finance Minister: LE 6 bln targeted for cash payment of third tranche of exporters’ dues

Finance Minister Ahmed Kouchouk announced the target allocation of six billion LE to provide exporters with a cash payment for the third tranche of overdue dues related to shipments made prior to July 1, 2024. Applications from interested companies will be accepted from August 16 to October 1, with the payments expected to be made on October 22.

According to Kouchouk, more than LE 80 billion has been disbursed to exporters over the past six years, and the government aims to fully settle all outstanding debts within two years. In the current budget, LE 48 billion has been designated to expedite the provision of export support. Export subsidies in fiscal year 2025/2026 amounted to LE 28 billion, marking a 55% annual growth.

Kouchouk emphasized ongoing coordination and integration with the Ministry of Investment and Foreign Trade to enhance the export system and foster the growth of Egypt’s export sector. The government is committed to providing exporters with liquidity to bolster the competitiveness of Egyptian goods and services exports, with plans to significantly increase annual allocations for export support and promotion to open up new markets for Egyptian products.

Nevine Mansour, the minister's adviser for economic institutions' relations, revealed that LE 12.6 billion in cash was paid to approximately 2,500 exporting companies during the previous fiscal year. This amount represented the total value of the first and second tranches of overdue dues paid in cash for fiscal year 2025/2026, rather than being spread over two fiscal years.