Government allocates EGP130 Billion to Deal with Repercussions of global Economic Challenges

Government allocates EGP130 Billion to Deal with Repercussions of global Economic Challenges

In the implementation of the directives of President Abdel Fattah El-Sisi, a package of financial and social protection measures worth EGP 130 billion has been prepared to deal with the repercussions of global economic challenges and to mitigate their effects on citizens.

More than 2.7 billion pounds will be arranged to include 450,000 new families for the beneficiaries of the “Solidarity and Dignity ” program.

The government also allocated 190.5 billion pounds to the National Authority for Social Insurance to disburse the annual increase in the value of pensions by 13%, with a minimum of 120 pounds, starting from the beginning of next April, and increasing the tax exemption limit by 25% from 24 to 30,000 pounds.

It decided that starting from next April’s salary, the periodic bonus will be paid to those who are addressed by the provisions of Civil Service Law, which has been increased to 8% of the job wage.