Public Management

Egypt: Govt announces an increase in the minimum wage for civil servants

Egypt: Govt announces an increase in the minimum wage for civil servants
Wednesday, 17 March 2021 12:09

Egyptian President Abdel Fattah al-Sissi announced last March 15 his intention to increase the minimum wage for civil servants. The information was relayed by the spokesman of the Egyptian presidency, Bassam Rady, in a statement issued the same day.

The announcement follows a meeting with PM Dr. Mostafa Madbouly, and the Minister of Finance, Dr. Mohamed Maait, which saw the authorities discuss the draft budget for the next fiscal year 2021-22. According to the statement, the minimum salary for Egyptian public administration staff will increase from EGP2,000 to EGP2,400 ($153); up 20%.

The president also ordered the implementation of some provisions for workers, whether or not they are subject to the civil service law. These include the "increase in pensions by 13%" and the promotion of "employees who meet the conditions for promotion on 6/30/2021."

Regarding the proposed budget for FY2021-22, the Minister of Finance said that it "aims to reduce the total deficit to about 6.6% of GDP and achieve an initial surplus of 1.5% of GDP, while maintaining debt levels." According to him, this will maintain certain stability necessary for the recovery of the economy, especially in a context where factors such as covid-19 have shaken the Egyptian economy.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
First RMBS listing on BRVM backed by NSIA Banque Côte d’Ivoire CFA10 billion securitization aims to expand housing finance Move seeks to deepen...
Holmarcom to acquire BNP Paribas 67% stake in BMCI Deal pending approvals, expected to close Q4 2026 Move strengthens Holmarcom...
Strategy follows mining corridors and regional trade flows Expansion backed by record profits and pan-African growth plans Kenya's Equity...
WAEMU imposes new loan rate caps from June 1 BCEAO sets 14% for banks, 24% for others Reform aims to protect borrowers, align lending...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
03

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
04

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
05

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.