President Abdel Fattah El Sisi reviewed today the economic decisions package taken by the government to reduce the effects of the coronavirus on the Egyptian economy.
He pointed out the readiness to discuss with the continuation of evening shifts the private sector companies, provided that all health precautions are taken for workers and their families.
The most prominent of those decisions that the president reviewed:
Irregular employment: The government has allotted a budget to grant the irregular employment 500 pounds for a period of 3 months.
Tourism: Drop the real estate tax on hotels and tourist establishments for a period of 6 months.
Postponing the payment of all dues on tourist and hotel establishments for a period of 4 months without fines or delay interest.
Directing the central bank to study providing bank financing for tourist and hotel establishments at a reduced interest rate.
The aviation sector, where the President Sisi decided to provide a support loan to the sector, with a grace period covers two years.
A study will be conducted to transfer some financial burden to the Ministry of Finance instead of the civil aviation sector.
Exporters’ dues with the Export Support Fund:
-Paying 30% of the exporters’ dues with the Export Support Fund, at least 5 million pounds for each exporter before the end of the current fiscal year.
A package of procedures to support companies and establishments in the affected sectors.
-Installment of the tax to 3 premiums that expire on June 30 of the current year.
-Postponing payment and installment of the real estate tax for 3 months without fines or interest.
-Delaying the installment fee for administrative services for companies and establishments in the affected sectors for a period of 3 months without interest.
