Egypt supports export sector with LE 28B since beginning of "refund of arrears" initiative

Tue, 29 Jun 2021 - 02:54 GMT

The minister indicated in a statement Tuesday, that since the beginning of the implementation of the initiatives to return the “arrears” of the dues of the exporting companies in October 2019, so far, the exporting companies have been supported with LE 28 billion; It is a subsidy that has not previously been allocated to the export sector; reflecting the state's keenness to stimulate exports.

Finance min. announces launch of 2nd stage of initiative on cash repayment of export companies’ arrears

Sun, 31 Jan 2021 - 02:23 GMT

The door is open for joining the second stage from February 7 to February 28.

PM: Presidential directives on exporters' overdue payments before end of 2020

Thu, 24 Sep 2020 - 07:12 GMT

Sisi directed to settle the problem of overdue payments for exporters before the end of year, stressing that the government seeks to increase investments and exports.

Egypt calls on financiers to take advantage of tax arrear exemptions law

Tue, 18 Aug 2020 - 11:21 GMT

The delay fee or additional tax due on these tax arrears will be waived by 90 percent, if the original tax or fees due are fully paid within a maximum period of 60 days from the date of work with

Egypt's arrears to foreign oil companies decline to $850M at end of June

Wed, 29 Jul 2020 - 03:43 GMT

Molla added Reuters that dues decreased by 5.5 percent, compared to $900 million at the end of 2018/2019 fiscal year.

Finance, Trade ministries ink 31 agreements to settle exporters' arrears

Mon, 03 Feb 2020 - 12:06 GMT

The move comes in implementation of the government's initiative to settle within five years arrears of companies seeking to expand or increase their investments in the markets.

Egypt's arrears to foreign oil firms fall by end of June: Min.

Thu, 11 Jul 2019 - 12:20 GMT

Tarek el-Molla also added that total monthly payments by Egypt to foreign oil companies stood at $700 million.

Business News Wrap-up

Wed, 31 Jan 2018 - 05:11 GMT

A wrap-up of the most prominent business news of the day

Egypt’s arrears to foreign oil companies reach $2.4B: Min.

Wed, 31 Jan 2018 - 11:49 GMT

Egypt owed foreign oil companies operating in the country $2.4 billion by the end of June 2017, Petroleum Minister Tarek el-Molla said Wednesday.

Petroleum ministry's debt down to $3.2B in 2017

Sun, 31 Dec 2017 - 09:32 GMT

The figure is well less than $6.3 billion recorded in 2013.

EGPC pays $6.2 billion in arrears to foreign oil firms

Thu, 21 Sep 2017 - 11:40 GMT

EGPC also paid $19.3 billion to the companies to purchase oil and repay loans.