Finance Minister Fayad Abdel Moneim said that he recently received a report from Fuwad Al-Khabati, the president of the Customs Authority, which stated that from the period beginning 1 July 2012, and ending midway through this May, the authority’s revenue intake increased to EGP 13.5bn. This represents 65% of the government’s stated target of EGP 20.7bn for the 2013 fiscal year, as put forth in the country’s current public budget.
He said that EGP 12.5bn were acquired through customs duties imposed on Egyptian imports, with an additional EGP 485m reaped in taxes imposed on exports. EGP 380m were also earned from taxes imposed on tobacco imports, in addition to EGP 87.8m collected in fines. EGP 16.4m in additional funds were collected from the sale of seized goods.