Egypt: President Al-Sisi Raises Minimum Wage From $70 To $116 - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Abubakar Abubakar
April 1, 2019
Egypt’s President Abdel Fattah al-Sisi has raised the country’s minimum wage to 2,000 Egyptian pounds equivalent to 116 dollars a month from 1,200 pounds.
Sisi said at an event celebrating women that the raise would apply to all Egyptian workers and added that pensions would rise by 15 percent, with pensioners receiving a minimum increase of 150 pounds to take the minimum pension to 900 pounds.
Under the measures announced by Sisi, state employees will receive a raise of 7 percent, or a minimum of 75 pounds, while those not employed in the civil service will receive a 10 percent raise, also receiving at least 75 pounds.
All state employees will also get a bonus of 150 pounds to help compensate for inflation, Sisi said, urging Egyptians to alter their spending behavior to help combat rising prices.
Egypt has implemented a series of tough economic measures, including devaluing the pound, slashing energy subsidies and introducing a value-added tax, to help meet conditions of a 12 billion dollars International Monetary Fund, IMF loan.