President of Egypt, Abdel-Fattah El-Sisi has issued directives for the increment in remuneration for all state employees and raise the monthly minimum wage.
According to the presidential spokesman Bassam Rady, the president has ordered the earmarking of EGP 37 billion in the draft budget for 2021/22 to increase salaries as well as to raise the minimum wage from EGP 2,000 to EGP 2,400.
El-Sisi issued the directives during a meeting after reviewing the new draft budget for the fiscal year 2021/22 with Finance Minister Mohamed Maait and Prime Minister Mostafa Madbouly.
Employees covered by the civil service law will get a 7.5 percent periodical salary bonus, while employees not covered by the law will get one-time bonus that is 13 percent of their basic salaries.
The statement says, during the meeting, the president also instructed the approval of a 13 percent increase to pensions at a total cost of EGP 31 billion.
State employees who will be relocated to the country’s New Administrative Capital, will get financial incentive in the tune of EGP 1.5 billion.
The New Administrative Capital is expected to house various parastatals of government and ministries by the end of 2021.
El-Sisi also stated that employees who meet the requirements for promotion by 30 June 2021 will get promoted – at a total cost of EGP 1 billion.
The finance minister said that the new draft targets growth of 9 percent, a 6.6 percent total deficit reduction, and an initial budget surplus of 1.5 percent. The new budget allocates EGP 2.1 billion to fund the national project to replace 70,000 rickety cars with others working with natural gas in one year.
Copyright: News Central TV
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.