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Egypt Iron Steel Exports Down To 30% on Arrears to Exporters

Steel News - Published on Tue, 20 Aug 2019

Image Source: Egypt Today
Amwalal Ghad reported that Egypt’s iron and steel exports declined by 30% during the first half of 2019 as exporters haven’t received their dues from the export subsidies program estimated at one billion Egyptian pounds (USD 60.3 million). Mr Naaman ,head of the Division of construction materials production, further told Amwal Al Ghad that the delay in paying off the arrears of export subsidies has contributed to decreasing the competitiveness of the Egyptian steel in foreign markets.

Egyptian iron and steel exports during H1 of 2019 has declined to register USD 394 million versus USD 560 million in the comparable period of 2018.

Source :

Posted By : Amom Remju on Tue, 20 Aug 2019
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