Sisi orders to increase state servants' minimum wage to LE 2,400

President Abdel Fattah El Sisi met Monday with Prime Minister Mostafa Madbouly and the Minister of Finance, Mohamed Maait, and discussed the budget for the next fiscal year 2021-2022.

[caption id="attachment_188983" align="aligncenter" width="628"] Presidency Spokesperson Bassam Rady- File Photo[/caption]

Some decisions were released during the meeting with Ahmed Kajok, Deputy Minister of Finance for Financial Policies, and Dr. Ehab Abu Aish, Deputy Minister of Finance of the Public Treasury, according to Presidency Spokesperson Bassam Rady.

Rady added that Sisi discussed as well "the budget for the next fiscal year 2021-2022".

In this context, Sisi directed the following:

Approval of salary increases for employees of the state’s administrative apparatus by about 37 billion pounds.

Raise the minimum wage to 2,400 pounds.

Approval of two bonuses at a cost of about 7.5 billion pounds, the first is a periodic bonus for employees engaged in the civil service law, at a rate of 7 percent of the job wage, and the second is a special bonus for workers not addressed by the civil service law at a rate of 13 percent of the basic salary.

Increasing the additional incentive for both the respondents and non-respondents to the civil service law, at a total cost of about 17 billion pounds.

Increasing the value of pensions by about 13 percent, at a total cost of about 31 billion pounds.

Promote employees who meet the promotion requirements on 6/30/2021, in order to achieve an improvement in their wages by the value of the legally determined promotion bonus, at an estimated cost of one billion pounds.

Allocating a financial incentive estimated at about 1.5 billion pounds for workers transferred to the new administrative capital.

Rady noted that the Minister of Finance presented the most prominent features of the draft budget for the fiscal year 2021-2022, which included the growth of 9 percent over the current year’s estimates, and aims to reduce the total deficit to about 6.6 percent of GDP and to achieve an initial surplus of 1.5 In percent of GDP, indebtedness rates continue to be maintained.

[caption id="attachment_222080" align="aligncenter" width="850"] Egyptian President Abdel Fattah El Sisi during meeting with Prime Minister Mostafa Madbouly- Press Photo[/caption]