Egypt’s President Abdel Fattah al-Sisi has raised the country’s minimum wage to 2,000 Egyptian pounds ($116) a month from 1,200 pounds, he said at an event on Saturday celebrating women.

Sisi said the raise would apply to all Egyptian workers and added that pensions would rise by 15 percent, with pensioners receiving a minimum increase of 150 pounds to take the minimum pension to 900 pounds.

“This was supposed to come out on June 30. But I said this matter cannot wait,” the president said.

You want to control prices, don’t buy things that get more expensive. The matter is simple. By God, by God, by God, anyone selling and buying wants to profit and be successful – if they find that their prices are exaggerated and people don’t go buy their commodities, prices will fall.


Under the measures announced by Sisi, state employees will receive a raise of 7 percent, or a minimum of 75 pounds, while those not employed in the civil service will receive a 10 percent raise, also receiving at least 75 pounds.

All state employees will also get a bonus of 150 pounds to help compensate for inflation, Sisi said, urging Egyptians to alter their spending behavior to help combat rising prices.

The pay increases will cost the state 30.5 billion Egyptian pounds in total, Sisi said, noting that more than 300 billion pounds would be allocated for salaries in the 2019/2020 budget, up from 270 billion in the previous year.


Egypt has implemented a series of tough economic measures, including devaluing the pound, slashing energy subsidies and introducing a value-added tax, to help meet conditions of a $12 billion IMF loan. The measures have left many of Egypt’s nearly 100 million people struggling to make ends meet.

Remaining fuel subsidies are expected to be cut around mid-2019, and the petroleum minister said last month Egypt would implement an automatic price indexation mechanism on 95 octane petrol starting in April.

Source: https://www.africanews.com/2019/03/31/egypt-president-raises-minimum-wage-now-116-from-70/

Ok

pt has raised the minimum wage to 2,000 Egyptian pounds ($115.74) per month from 1,200 ($69.27) on Saturday.

The country took a $12-billion loan from the International Monetary Fund (IMF) after the flotation of its currency in November 2016, losing about 50 percent of its value.

Egyptians have been strongly hurt by painful austerity measures in recent years.

The measures were part of an economic reform program intended to revive the country's economy mauled by years of political turmoil and violence.

The reforms included floating the currency, substantial cuts in state subsidies, and introducing a wide range of new taxes. The reforms were agreed on with the International Monetary Fund in exchange for the loan.

The measures led to a significant rise in prices and services, something critics say has hurt the poor and middle class the hardest.

Cool

for how long will this continue, with all these intervention the poor and middle class were the hardest hit. while the high wealthy class were cruising high. it has Always has never been to improve people lives.

minimum wage okay.....

VeeVeeMyLuv:
for how long will this continue, with all these intervention the poor and middle class were the hardest hit. while the high wealthy class were cruising high. it has Always has never been to improve people lives.

Being Rich has so many advantages, that is why bringing the gap between the rich and the poor is often rejected

emmanuelpopson:
minimum wage okay.....

So what do you think should be done about our minimum wage implementation saga?

Cletus77:


So what do you think should be done about our minimum wage implementation saga?

Nigerians can't protest as the Egyptians did in 2012.. the Arab spring gave the govt the listening ears to the Egyptians the aftermath of this protest is the effects of this economic reforms we are seeing... until we have an inclusive govt.. we can't have an increase in minimum wage... Nigerians are docile and comfortable in these call suffering and smiling... until we call for our own right and these thieves cut off all extravagant lifestyles and expenses where we have a lot of people suffering but some are living in opulence... a constitutional reform is what we need

Cletus77:

Being Rich has so many advantages, that is why bringing the gap between the rich and the poor is often rejected

for how long will they keep rejecting it, this was what led to the french revolution 300 years ago.

it is clear that some group of people are responsible for the misery, high unemployment and poverty experienced in some part of the world.

emmanuelpopson:


Nigerians can't protest as the Egyptians did in 2012.. the Arab spring gave the govt the listening ears to the Egyptians the aftermath of this protest is the effects of this economic reforms we are seeing... until we have an inclusive govt.. we can't have an increase in minimum wage... Nigerians are docile and comfortable in these call suffering and smiling... until we call for our own right and these thieves cut off all extravagant lifestyles and expenses where we have a lot of people suffering but some are living in opulence... a constitutional reform is what we need

Good.
Egyptians are monoethnic unlike Nigeria were half will protest and half won't because they feel they will betray their brothers in government

emmanuelpopson:


Nigerians can't protest as the Egyptians did in 2012.. the Arab spring gave the govt the listening ears to the Egyptians the aftermath of this protest is the effects of this economic reforms we are seeing... until we have an inclusive govt.. we can't have an increase in minimum wage... Nigerians are docile and comfortable in these call suffering and smiling... until we call for our own right and these thieves cut off all extravagant lifestyles and expenses where we have a lot of people suffering but some are living in opulence... a constitutional reform is what we need

Good.
Egyptians are monoethnic unlike Nigeria were half will protest and half won't because they feel they will betray their brothers in government.
Until we set aside ethnicity I don't think they'll be a noticeable difference in the Nigeria of today

VeeVeeMyLuv:
for how long will they keep rejecting it, this was what led to the french revolution 300 years ago.

it is clear that some group of people are responsible for the misery, high unemployment and poverty experienced in some part of the world.

True.and the sad part is that both the rich and poor knows this