According to media reports, President Abdel Fattah Al Sisi has approved and ratified a decision to increase basic salaries for governmental employees depending on the grade of the employees. The minimum general salary in Egypt currently stands at LE 1,200; it is one of the lowest minimum salaries in the Middle East as it stands at approximately $70. Lately, the Egyptian government has increased electricity, water, fuel and public transportation prices in order to gradually remove state subsidies on these services. Egypt secured a three-year $12 billion bailout loan in 2016 from the International Monetary Fund by taking multiple measures including slashing subsidies, imposing a value-added tax and a currency flotation. Although the economists and business praised the tough austerity measures, poor and middle-class Egyptians find difficulties in adapting to the new prices. President Al Sisi has also issued an increase in military pensions up to 15 percent, according to Al Ahram….
Egypt President Ratifies Minimum Salary Increase for Government Employees
June 24, 2018
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