• Monthly salaries of state workers up by LE1,000-1,200
• Tax exemption threshold up to LE60,000 from LE45,000
• 15% increase in pensions for 13m citizens
• LE41b for “Takaful and Karama” pensions
• LE15b for salary rise for doctors, nurses, teachers, univ. staff
• Periodic bonuses of 10% for CSL employees, 15% for others
Egypt’s President Abdel Fattah El Sisi held a meeting on Wednesday with Prime Minister Moustafa Madbouli and Minister of Finance Mohamed Maeet.
The president was briefed on the developments of the general economic situation, the government’s measures to control the prices of basic goods in the local market and efforts to reduce inflation, according to Presidency Spokesman Ahmed Fahmy.
President Sisi directed the government to exert the utmost effort to relieve financial burdens for citizens urgently, and to contain the repercussions of global crises and economic turmoil, the presidency spokesman said.
President Sisi directed the government to implement the largest urgent social protection package, at a value of LE180 billion, as of the next month, Fahmy said.
The president instructed the raising of the minimum wage for all workers in the government by 50 per cent to reach LE6,000 as of March to alleviate the cost of living pressures on citizens.
President Sisi directed the government to increase the monthly salaries of state workers and employees of economic bodies by at least LE1,000-LE1,200, depending on their job grade.
Described as the “largest urgent social protection package,” this initiative has a value of LE180 billion, according to the presidency.
The social package includes a 15 per cent increase in pensions for 13 million citizens, amounting to a total cost of LE74 billion.
The decisions also include periodic bonuses of 10 per cent for those addressed by the Civil Service Law (CSL) and 15 per cent for those not addressed by the CSL.
Additionally, there will be a 15 per cent increase in pensions for the social protection programme known as “Takaful and Karama,” costing LE5.5 billion. A total of LE41 billion will be allocated for “Takaful and Karama” pensions in the fiscal year 2024/2025.
To support state employees, the tax exemption threshold will be raised by 33 per cent for employees in the government, public, and private sectors, increasing it to LE60,000 instead of LE45,000.
The social package also includes an allocation of LE15 billion for salary increases for doctors, nurses, teachers and university staff.
Teachers in pre-university education will see a raise ranging from LE325 to LE475. Medical and nursing professionals will receive raises in risk allowances ranging from LE250 to LE300, along with an increase of up to 100 per cent in night shift and accommodation allowances.
Additionally, there will be raises for faculty members and their assistants at universities, institutes and research centres.
President Sisi has allocated LE6 billion to appoint 120,000 medical professionals, teachers, and employees in other administrative entities.
This decision by the president comes at a time of rising commodity prices and increased burdens on citizens due to the global economic crises.