As the export sector is passing through a critical situation due to the government’s delay in releasing exporter’s debt payments, several concerned bodies have declared their support of the sector against the government’s lack of action. The Egyptian businesspersons’ association (EBA), sent its remarks on how this delay is harming the sector to Prime Minister Mostafa Madbouly. According to the EBA’s remarks, the Export Development Fund, still insists on not releasing export debts since October 2015 which are currently EGP 10bn. The EBA stressed that the government is contradicting itself, as it has announced that it will provide all facilities and incentives to investors and exporters, while the ministry of finance has not allocated any funds to release exporters’ debts. Chairperson of the EBA board, Ali Eissa, revealed to Daily News Egypt that the EBA and export councils called for a meeting with the prime minister to discuss all the troubles that export sector faces.

Source: Daily News Egypt December 12, 2018 12:15 UTC