Finance ministry reveals details of EGP 150 bln social protection … – Ahram Online

Egypt's Ministry of Finance has announced the details of the EGP 150 billion ($4.85 billion) social protection package that will increase salaries of public employees starting in April.

President Abdel-Fattah El-Sisi directed the government in March to address soaring inflation in the country by increasing public employees' salaries and pensions.
The package includes EGP 95 billion allocated to raise the minimum wage and finance the Takaful and Karama social protection programmes, and EGP 55 billion to boost pensions, according to Minister of Finance Mohamed Maait.
Under the new measures, public employees will see their monthly salaries increase by a minimum of EGP 1,000 starting in April
The minimum wage in the public sector will rise by 17 percent to EGP 3,500 per month, while employees with advanced qualifications, such as a master's or PhD degree, will also see their minimum salaries increase to EGP 6,000 and EGP 7,000 per month, respectively.
In addition, an eight percent periodic bonus will be applied to employees subject to the Civil Service Law with a minimum amount of EGP 125. A 15 percent special bonus will be applied to those who are not subject to the law with a minimum amount of EGP 125. Lump-sum bonuses ranging from EGP 300-400 will be applied to salary grades from second to sixth, while general managers will receive an EGP 500 bonus.
This marks the third increase in public employees' salaries and pensions during the current fiscal year. It was first raised from EGP 2,400 to EGP 2,700 in July, then raised a second time to EGP 3,000 in October.
The minimum wage in the private sector, which is regulated separately, has been set at EGP 2,700 since January.


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