Egypt’s President Abdel-Fattah El-Sisi announced several measures to cushion the negative implications of the pandemic outbreak on the economy, state-run Al-Ahram reports.

The measures include providing allowances of EGP 500 for each irregular worker for three months, property tax write-off on hotels and touristic institutions for six months, and a four-month delay to any due installment. In addition, the Central Bank of Egypt (CBE) is directed to offer low-interest loans for the tourism sector.

As for the civil aviation sector, the Finance Ministry will offer loans with a grace period of two years. 

The measures also tackle other sectors where corporates are potentially damaged by the crisis. El-Sisi has given his directives to delay property tax and administrative fees for three months without penalty.

The government is to disburse “30% of export arrears over three tranches from the Export Support Fund.”