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Egypt’s prime minister on Wednesday announced a 300-pound ($15.20) increase in the minimum monthly wage, as average Egyptians suffer from soaring prices in recent months.
In a news conference, Prime Minister Mustafa Madbouly announced the increase to 3,000 Egyptian pounds (over $152), up from 2,700 pounds ($137).
It was the fourth increase of the minimum wage since President Abdel Fattah El Sisi took office in 2014. It came as the government faces towering financial and economic challenges stemming from the coronavirus pandemic and the Russian war in Ukraine.
The prime minister also announced an increase of 300 pounds ($15.25) in pensions and bonuses for civil servants.
The government, he also said, will not increase electricity bills until June next year. It will also offer financial support to some businesses hurt by the global economic crisis to avoid furloughs, Madbouly said. He did not elaborate.
Madbouly said some of the changes will take effect immediately, while others will have to be approved by parliament. He did not offer further details.
Wednesday’s measures are meant to ease the burdens of Egyptians hurt by the current global economic crisis, he said. Already, middle-class and poor Egyptians have suffered from painful austerity measures in recent years since the government embarked on ambitious economic reforms.
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