| 4 March 2024, Monday |

Egypt’s Sisi orders 13% increase in public pensions

Egyptian President Abdel Fattah Al-Sisi has ordered a 13 per cent increase in the pensions of civil servants, official media reported yesterday.

Quoting a presidential decree, the state-run outlets said that the decision comes into effect on 1 July.

“President Al-Sisi has approved two basic-salary bonuses at a cost of about 7.5 billion pounds [$0.48 billion], the first is a periodic seven per cent bonus for former civil servants, while the second is a special 13 per cent bonus for public workers who are not included in the civil service law,” the decree read.

The edict pointed out that Al-Sisi ordered another 13 per cent increase in public workers’ pensions at a total cost of about 31 billion pounds ($1.9 billion).

In March, the president increased civil servants’ salaries at a total cost of about 37 billion pounds ($2.4 billion). The move included a rise in the public minimum wage to 2,400 pounds ($153.29) per month.

He also launched a financial incentive program  estimated at about 1.5 billion pounds ($95.8 million) for workers who agreed to move to the so-called New Administrative Capital (NAC).