Pensions
Egypt’s President Abdel Fattah El-Sisi has instructed the raising of minimum wages by 50 percent, reaching LE 6,000 starting from March, as part of an urgent social protection package.
Maait highlighted the state’s efforts to start paying higher wages and pensions to beneficiaries starting April.
H.E. Dr. Yasmine Fouad, Minister of Environment, stressed the role those Egyptian women play in supporting environmental work, especially at the international level.
The increase would be applied next April rather than July, at an additional cost of LE 8 billion.
Renowned businessman Ayman Al-Gamil said President Abdel Fattah El-Sisi’s recent decision to raise salaries and pensions represents an unprecedented leap and benefits around 16 million families.
The wage increases for the employees working at the administrative body of the state will cost the state around LE 37 billion in total and the pensions increase will cost the state around LE 31 billion, a presidential statement read.
He added that on the 30th of next June, Egypt will have paid LE 360 billion.
Madbouli added that the state was keen to alleviate the burden off the Egyptian citizen during the coronavirus crisis.
The minister noted that the government adopted an international strategy to achieve a lower debt ratio, primary surplus of 2 percent and high growth rates.
In a report, the center dismissed the reports as groundless, saying it contacted the ministry that stressed that it continues to honor its obligations towards all pensioners.
The government is currently working to develop a plan to manage pensions in an economic way, Abd Aal said.
Egypt’s Parliament approved on Tuesday a draft law that reduces pensions of ministers and governors by more than 50 percent to rationalize government expenditure.
The 15- percent increase came to cope with high prices since the state’s currency has been floated against the U.S. dollar with a 50 percent of devaluation in 2016.
These women currently do not have a job title in their national IDs.
A central operating room is announced to be established to monitor the disbursement of pensions to 2-million beneficiaries on January 1 instead of January 10.
Head of Planning and Budget Committee says subsidies’ beneficiaries can be divided into tranches; high, medium and low.
The latest economic decisions taken by President Abdel Fatah al-Sisi will cost the government a total of LE 75 billion ($4.1 billion).
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 Egyptian state is taking several measures to soften the impact of SAP procedures assumed recently.
The Egyptian cabinet approved a new social solidarity package with a total value of LE 43 billion ($2.4 billion) in FY2017/18, Amr el-Garhy said Monday.
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