Egypt cuts dividends tax, lowers industrial gas price to soften impact of coronavirus

Egypt on Tuesday lowered the price of natural gas for industrial use to $4.5 per mmbtu and cut a tax on dividends for companies listed on its stock exchange to 5% in an attempt to soften the impact of the spread of the coronavirus on the economy.

The government also said it was shutting cinemas and theatres till further notice to prevent the spread of the disease.