The Egyptian government announced the launch of a new program to support exports in the amount of 60 billion Egyptian pounds (about 95 billion rubles). This is reported Sada El Baad – partner of the network TV BRICS – with reference to the economist Mongi Ali Badra.
According to the terms of the program, exporters will be offered a special loan scheme. The interest rate on such loans will consist of two parts: a fixed rate of 3 percent per annum and a variable rate that will decrease as the volume of exports increases.
According to Badr, the program for 2025-2026 has been significantly expanded and now covers more than 11 industries. Among them are mechanical engineering, chemical, food, textile industry, construction materials, agriculture, as well as tourism, which was recently included in the list of priority areas.
He added that 9 billion Egyptian pounds (about 14 billion rubles) have been allocated to support the tourism sector. These funds are aimed at increasing the number of hotel rooms and doubling the income from tourism.
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