Egypt’s Cabinet, headed by Prime Minister Mostafa Madbouly, decides to grant real estate tax relief for all businesses operating in the industrial and tourism sectors for a time period of three months, Invest-Gate reports.

This comes as part of a package of fiscal measures the government took to help support the economy and financial markets in order to mitigate the impact of the Coronavirus disease (COVID-19) outbreak, according to a statement released on March 17.

Companies will be permitted to repay existing property tax liabilities in monthly instalments over the next six months, the Cabinet added.