Egypt's general treasury pays EGP 3B to support funds’ workers

Minister of Finance, Mohamed Maait, confirmed that Egypt’s general treasury endured approximately EGP 3 billion in support of the salaries of workers in the governorates’ funds and accounts during FY 2023/2024.

During the final quarter of the ongoing fiscal year, a sum of EGP 715.7 million was earmarked to pay the entitlements of employees within the funds and accounts for the new increase, Maait added.

The Ministry of Finance diligently monitors the monthly salary payments of employees, addressing any requirements resulting from recent salary raises to ensure the well-being of workers and maintain social stability.

Earlier in February, President Abdel Fattah El Sisi raised Egypt's minimum wage by 50% to EGP 6,000 effective next month, El Sisi announced on X to alleviate the cost of living pressures on citizens.

In April, Egypt's National Wages Council (NWC) announced raising the minimum wage for private sector workers to EGP 6,000 as of May 2024, during a meeting headed by Minister of Planning, Hala El-Said.

This decision came within the framework of ensuring the interests of workers, especially with the recent developments and economic changes internally and externally, El-Said added.