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English news

24-Mar-2019

Government proposes amendments to increase minimum wages, annual raises

Government sources noted that the restructuring of the wage system, called upon by President Abdel Fattah Al Sisi, includes increasing the minimum wage to between EGP1,400-1,600, up from the current EGP1,200. The expected increase is between 17-33%, the sources said. The actual increase has not yet been determined and may be even greater, given the President's desire to substantially improve government wages. The restructuring of wages also entails increasing the annual increase from 7.5% to 15%. In addition, the proposed amendments include exempting special raises from income taxes. (Al Borsa)