Minister of Finance, Mohamed Maait, said during a meeting with Prime Minister, Mostafa Madbouly, to follow up on the recent developments of the export burden rebate program.
This was due to the decrease in the value of Egypt's non-oil imports, which reached $18 billion during Q4 of 2023, compared to about $19 billion during the same quarter of 2022, with a decrease rate of about 5.3%.
Proposed legislation aims to facilitate Egyptian exports, particularly to politically unstable nations.
Furthermore, Egypt aims to achieve a yearly growth of 20% in its industrial production, enhance the green economy's contribution to the gross domestic product (GDP) to a minimum of 5%, and generate 7 to 8 million job opportunities.
According to CAPMAS, during December 2023, value of Egypt’s exports decreased by 23.0%, to reach $3.48 billion, compared to $4.52 billion for the same month of 2022.
