Egyptian President Sisi announces 15 economic measures to deal with the outbreak.
Release time:
2020-04-07 00:00
Source: Egyptian Chinese Chamber of Commerce
According to the Egyptian Ministry of Health on the evening of the 22nd local time, there were 33 new confirmed cases of new coronary pneumonia in Egypt, with a total of 327 confirmed cases, 4 new deaths and 14 cumulative deaths. A few days ago, Egyptian President Sisi announced 15 economic measures to deal with the epidemic--
The 1. Ministry of Finance allocated 100 billion Egyptian pounds to deal with the epidemic.
2. reduce the price of industrial natural gas.
3. reduce the price of electricity for industrial use.
4. launched the Helping People in Need initiative to support tourism practitioners.
In March and April 5., 1 billion Egyptian pounds were provided to Egyptian citizens to reduce the pressure on loan exchange.
6. reduce the taxes payable by the financier.
7. lower central bank tax rates and provide more credit lines for financing.
8. small and medium-sized enterprises and small loans can be deferred for 6 months.
Penalties and late fees for deferred payments are 9. canceled.
10. provide support to the industries most affected by the outbreak.
11. Provide 50 billion Egyptian pounds of real estate investment support to the middle-income class through banks.
12. Launch the "Tourism Financing Plan" to provide hotels with 50 billion Egyptian pounds of financing and reduce the loan interest rate to 8%.
The central bank provides 20 billion Egyptian pounds of financial support to the Egyptian stock market.
Fourteen, two years to stop the implementation of the agricultural land tax law.
15. Regular increases in pensions will begin next year.
As early as the 17th, Egypt's Economy and Me website reported that Egypt had decided to reduce industrial energy prices and corporate dividend taxes to deal with the economic impact of the new coronary pneumonia.
It is reported that Egypt will reduce the price of natural gas for industrial use from US $5.50/mmbtu (million British thermal units) to US $4.50/mmbtu (million British thermal units), the electricity price for heavy industry will be reduced from 1.10 Egyptian pounds/degree to 0.10 Egyptian pounds/degree, and will maintain the stability of electricity prices in other industries within 3-5 years.
In addition, Egypt will also provide exporters with an export subsidy of 1 billion Egyptian pounds in March and April, and allow factories and tourism companies to delay the payment of real estate taxes for three months.
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