Finance Minister Amr el-Garhy - File photo Finance Minister Amr el-Garhy - File photo

Exceptional public employees’ bonus cost LE 7.5B: Finance Ministry

Wed, May. 31, 2017
CAIRO – 31 May 2017: The exceptional bonus for public employees, earmarked by the Cabinet, will be paid as of July 1, imposing LE 7.5 billion ($41.6 million) of burden on state coffers, Deputy Minister of Finance for Budget Affairs Mohamed Moeet said Tuesday.

The government will disburse 7 percent bonuses to state employees who fall under the jurisdiction of the Civil Service Law, and those who are not regulated by that law, Moeet added.

Minister of Finance Amr el-Garhy said the Egyptian Cabinet approved a new social solidarity package with a total value of LE 45 billion ($2.5 billion) in FY2017/18, directed to public employees, Karama and Takaful programs and pensions.

An annual increase of 15 percent in the social pensions, was also announced on the same day to be effective on July 1, Minister of Social Solidarity Ghada Wali said.

Wali explained that the increase will come at a minimum level of LE 65 and a maximum level of LE 130, and is yet to be issued by a law from the Parliament.
The pensions will burden the budget with LE 20 billion.
There are no comments on this article.

Leave a comment