Future Egypt charges 20% export toll
The report reveals the expansion of the "Future Egypt for Sustainable Development" entity, which has gained broad powers including the import and export of strategic commodities such as wheat, oil, and rice. It has also imposed tariffs on companies and exporters reaching up to 20% of the value per ton. This new authority has led to an economic crisis, as it appears that the entity benefits from price differentials by importing goods at prices higher than global market rates, harming farmers and the local economy. Additionally, there is criticism that the entity operates independently, bypassing the previous government institutions responsible for overseeing rice exports. This raises concerns about market interference and the emergence of a parallel authority that could influence economic policies, amidst conflicts with water policies and food security goals in Egypt.
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