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The Egyptian government today increased by $15 minimal salary government employees who will start earning a minimum of $152 per month, after which President of EgyptAbdelfat al-Sisi, said that “on less than £10,000 (about $507) you cannot live.”
The Cabinet announced in a statement approving a “social safety net” that includes an increase of 300 Egyptian pounds ($15.22 at current exchange rates) as well as an increase in the minimum wage to 3,000 pounds ($152.18) .
So far, the minimum wage in the public sector Egypt it was £2,700 (about $137), with real wages for private companies unregulated.
Tax payment
On the other hand, Government decided that anyone who earns £30,000 a year (about $1,522) would be exempt from paying taxes, thus changing the previous limit of £24,000 ($1,217), despite the fact that most of the Egyptian economy is underground.
Prime Minister of Egypt Mustafa Madboulisaid that these measures were taken to combat rising prices in Egypta country suffering from inflation and depreciation of the local currency in the midst of a global economic crisis.
These measurements were taken one day after President of EgyptThis was stated by Abdelfatah El-Sisi at the economic forum in Cairo that your government recognizes that “wages in Egypt”.
“I’m telling you very sincerely: you can’t live on less than £10,000 a month ($507.4),” said Al-Sisi, who has been heavily criticized because a significant portion of the population receives much less.
Government He also decided to increase subsidies for families who have ration cards to $5-15 a month, while he promised to keep electricity prices up to support his citizens, who have doubled the price of basic groceries.
One third of the population Egyptian lives in poverty, according to official figures.
(As reported by EFE)
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.