Egypt’s Cabinet Approves Mechanism to Settle Exporters’ Outstanding Dues

Egypt’s Cabinet has approved a new mechanism to address and settle outstanding dues owed to exporting companies, according to an official statement released following a recent meeting.

The decision is part of the government’s ongoing efforts to support the export sector, enhance its competitiveness, and stimulate economic growth. The approved mechanism aims to expedite the repayment of overdue financial entitlements to exporters, which have accumulated over recent years due to economic pressures.

Under the new framework, the Ministry of Finance and the Export Development Fund will collaborate to streamline the process of disbursing the dues. The mechanism includes clear timelines and procedures to ensure prompt and efficient settlements.

Moreover, the government plans to introduce measures to prevent similar delays in the future, including enhanced financial planning and coordination with exporters.

Prime Minister Mostafa Madbouly emphasized the importance of the export sector in driving Egypt’s economic development and increasing foreign currency inflows.

"Supporting exporters is a priority for the government as they play a vital role in boosting production, creating jobs, and achieving sustainable economic growth," he said.

Exporting companies have welcomed the decision, expressing optimism that the new system will alleviate financial burdens and improve cash flow, enabling them to expand their operations and compete in international markets.

This initiative aligns with Egypt's broader strategy to increase exports and attract foreign investment as part of its Vision 2030 economic development plan.