The Egyptian presidency announced a decision to raise the minimum wage from £ 2,400 to £ 2,700 in the country after Egyptian President Abdel Fattah El-Sisi met Prime Minister Mostafa Madbouly and Finance Minister Mohamed Maait on Tuesday.
The official spokesperson for the presidency, Bassam Rady, said the meeting dealt with “a review of the draft budget for the next fiscal year 2022-2023” and directives were issued to raise the minimum wage to £ 2,700.
Two were also approved bonus costing about 8 billion lire: the first is a bonus periodic for employees required by the Civil Service Act at 7% of the work pay, the second is a bonus special for workers not covered by the civil law on services at 13% of the basic salary.
The meeting concluded with an increase in additional incentive for both recipients and non-civil service law for a total cost of around £ 18 billion, and an announcement to appoint 30,000 teachers per year for a 5-year period, in order to meet the development needs of the education sector and the adoption of a new additional incentive for the development of teachers in the education sector, bringing the total to approximately 3.1 billion pounds.
The decisions also included the allocation of an amount of £ 1.5 billion to finance the additional quality incentive for teachers and their assistants in universities, centers, institutes and research bodies, as well as to finance the implementation of the new law on the remuneration of full-time professors, and including the specializations of dentistry, physiotherapy and nursing to the previous decision to increase the remuneration of excellent doctors, which is paid to them during the internship period in the grant year.
The spokesman explained that the Minister of Finance presented the most important objectives of the draft budget for the fiscal year 2022-2023, which aims to reduce the total deficit to about 6.3% of GDP, continue to reach a surplus. initial 1.5% of GDP, and reduce the debt-to-GDP ratio of public services, as well as raise wages to around 400 billion pounds.
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