President Abdel Fatah al-Sisi - File Photo
CAIRO – 20 June 2017: President Abdel Fatah al-Sisi announced a number of decisions Tuesday that aimed to protect the poor and vulnerable people from economic reform impact.
The decisions were announced Tuesday during the “Egyptian Family's iftar,” an annual Ramadan event that took place since Sisi assumed power in 2014. The event was attended by Prime Minister Sherif Ismail, many state officials and public figures.
Here are the decisions:
- Raising the ration cards subsidy from LE 21 to LE 50, with a 140 percent increase (estimated at LE 85 billion of the state budget.)
- Increasing the insurance premiums by 15 percent, with a minimum of LE 150 for 10 million pensioners, which is estimated at nearly LE 200 billion of the state budget.
- Increasing the value of cash subsidy ‘Takaful’ and ‘Karama’ programs by LE 100 monthly for 750,000 beneficiaries, which is estimated at nearly LE 8.25 billion of the state budget.
- Adopting a periodic bonus of 7 percent for the Civil Service Law employees with a minimum of LE 65, and an exceptional premium of 7 percent and a minimum of 130 LE.
- Approving a periodic bonus for non-respondents to the Civil Service Law of 10 percent with a minimum of LE 65, as well as an exceptional premium of 10 percent and a minimum of 130 LE.
- Raising the tax exemption level and approving a tax deduction for low income groups with a total value of LE 7 billion to LE 8 billion.
- To stop the tax on agricultural land for three years to ease the tax burden on the sector.