Egypt’s Minister of Finance Mohamed Maait has announced that e-government receipts witnessed an increase of 223% at the end of July compared to the same month of 2019.
The significant rise reflects the continuous development efforts of the country’s electronic payment (e-payment) and collection system. It also shows that Egypt has overcome any obstacles in implementing e-payment systems a way that contributes to improving its ranking in international indicators, especially those concerned with measuring the competitiveness.
Maait also reviewed a report on the performance of the e-payment and collection system for government dues since its launch in May 2019.
In a statement issued by the Ministry of Finance on Thursday, Maait directed for continued efforts to raise the efficiency of this advanced system. This will ensure it continues to contribute to the gradual transformation into a “digital Egypt”, including a cashless economy, and the promotion of financial inclusion, in line with the automated services provided by the state.
Maait said that the executive regulations of the law regulating the use of cashless payment methods recently approved by the Council of Ministers contributes to laying the foundations for the transformation of electronic payment and collection methods. This would see significant improvements not only in the administrative authorities, but extend the umbrella of non-cash payments to the public and private sectors.
Maait pointed out that there is a six-month period for the bodies addressed by this regulation to adjust and to provide means of acceptance of non-cash payment for those dealing with them in all outlets for the collection of services at no additional cost.