Economy Egypt unveils sizeable social package with wage hike By Pramod Kumar February 27, 2025, 11:01 AM Reuters/Aly Songol The wage increase is part of the EGP200 billion social support package unveiled by Prime Minister Mostafa Madbouly Egypt will increase minimum wages for public sector employees to EGP7,000 ($139) per month starting in July, aligning with a similar hike for the private sector this month, according to local media. The wage increase is part of the EGP200 billion ($4 billion) social support package unveiled by Prime Minister Mostafa Madbouly, the local media reported. The social package will be implemented during Ramadan and the new fiscal year, Daily News Egypt reported. Pensioners will receive a hike of 15 percent from July, Financial assistance will be provided to nearly 10 million families holding ration cards of between EGP125 and EGP250 during Ramadan and Eid festival. The new measures come on the back of two previous support packages worth EGP240 billion aimed at easing the rising cost of living. Expat remittances to Egypt up by a half to $30bn in 2024 New tax relief package expected in Egypt next month Egypt keeps interest rates steady as inflation looms The new package will have a EGP10 billion state-backed fund to promote economic empowerment for local families. Additionally, farmers will receive financial assistance of EGP6 billion, the report said. The social package will cost EGP40 billion in the next two month, with wage increases alone reaching EGP85 billion in the next fiscal year, finance minister Kouchouk said.
