Egypt commits to enhancing wage levels in 2024

According to an official statement, Maait highlighted the government's efforts thus far, citing two wage increase packages implemented in April and October 2023.

These packages, which accounted for EGP 210 billion from the country's treasury, aimed to provide relief to public sector employees and pensioners, despite the pressures on the national budget due to several factors including the sharp rise in prices of essential goods and services, Maait added.

In September, President Abdel-Fattah El-Sisi announced a series of additional measures to address inflationary pressures, including increasing the minimum wage for public sector employees from EGP 3,500 to EGP 4,000.

This followed an earlier increase in March when the minimum wage was raised from EGP 3,000 to EGP 3,500.

Overall, the government has progressively raised the minimum wage from EGP 1,600 to EGP 4,000 over the past four years, Maait indicated.

Moreover, the government raised the annual income tax exemption threshold in 2023 from EGP 24,000 to EGP 45,000, Maait further noted.