//Skip to content
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Egypt Plans to Increase Minimum Wage and Pensions in 2 Months

January 14, 2024
Image Credit: Rami Hamdi/Pixabay

In a statement made on January 14 by Samir Sabry, the Rapporteur of the Investment Committee at the National Dialogue, Egypt’s government is expected to increase the minimum wage for government employees and pensions within the next two months.

Currently, the minimum wage for the public sector stands at EGP 4,000 (USD 129) while pensions amount to EGP 1,300 (USD 42).

This proposed adjustment would mark the third minimum wage increase in less than a year.

Sabry explained that the raise aims to alleviate the impact of the global economic situation on the public. The rapporteur added that the holy month of Ramadan, which begins on 10 March and often inflates commodity prices, is a key reason behind the hikes.

“This step aligns with President Abdel Fattah Al-Sisi’s directives to support citizens and alleviate their financial burdens, given the unprecedented rise in price levels and inflation,” Sabry remarked during a phone interview with the Salet El-Tahrir TV show.

In the face of soaring inflation rates throughout 2023, peaking at a record high of 40.3 percent in September, the government remains committed to introducing measures aimed at easing the growing financial strain on citizens.

The country’s headline inflation rate has since decelerated to 35.2 percent as of December, with a target to decrease it to 5 percent by 2026.

Subscribe to the Egyptian Streets’ weekly newsletter! Catch up on the latest news, arts & culture headlines, exclusive features and more stories that matter, delivered straight to your inbox by clicking here.

Comments (0)