Egyptian currency - Reuters
CAIRO - 29 December 2022: The National Wages Council approved, in its meeting on Wednesday, to increase the minimum wage for workers in the Egyptian private sector from LE 2,400 to LE 2,700, as of January 1, 2023.
It also approved that the value of the periodic annual bonus for the private sector, which is effective starting from 2023, should not be less than 3 percent of the insurance subscription wage stipulated in the Social Insurance and Pensions Law, with a minimum of LE 100.
Minister of Planning Hala El-Said which headed the Council’s meeting stressed that the current crises in the framework of geopolitical challenges affect the economy in all countries of the world, including Egypt, pointing to the important role played by the federations of the various chambers in cooperation with the National Wages Council in reaching a great consensus on the minimum wage despite the exceptional circumstances the country is going through.
El-Said referred to the state's efforts to strike a balance between preserving Egyptian labor and economic entities, and setting an appropriate minimum wage.
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