The minister also added that they have allotted EGP 6.025 billion in the budget to go towards digital transformation and cybersecurity projects
Egypt has directed EGP 6 billion of its new state budget for FY2022/2023 towards supporting export development, revealed Minister of Finance Mohamed Maait.
The minister also added that they have allotted EGP 6.025 billion in the budget to go towards digital transformation and cybersecurity projects.
The finance ministry will continue to pay exporters’ dues through the Export Development Fund, with EGP 35 billion disbursed to exporting companies since October 2019
EGP 5 billion was directed towards reducing electricity prices for the industrial sector as part of efforts to raise private sector's contribution to various economic activities.
Regarding Egypt’s digital transformation budget allocation, EGP 5.4 billion will be directed to launching digital transformation projects and developing Egyptians’ digital skills, with EGP 625 million will be allocated for cybersecurity projects.
The Minister of Finance added that preparing skilled and trained human cadres that can employ modern technology to develop work systems and facilitate services is necessary for achieving digital transformation.