Cairo - Mubasher: The value of Egypt's electronic payment and collection services reached EGP 2.50 trillion in the first 11 months (11M) of the fiscal year (FY) 2023/2024, up from EGP 2.10 trillion in the same period a year earlier, said Minister of Finance Mohamed Maait.

Electronic customs receipts jumped by 38% year-on-year (YoY) to EGP 284.30 billion in 11M-23/24 from EGP 205.80 billion, the minister revealed.

He added that payments through government electronic collection machines (GPOS) leapt by 31% YoY to EGP 60.80 billion between 1 July 2023 and 31 May 2024, from EGP 46.30 billion.

Maait highlighted that financial inclusion is a cornerstone of growth and the transition to a digital economy, underscoring the state’s significant efforts in digital payments over the past decade, according to an official statement.