Egypt allocates $2.6bn for minimum wage raise

Finance Minister Galal said that his ministerial staff had already drawn up the necessary budget for the planned increase.

Egypt allocates $2.6bn for minimum wage raise

World Bulletin/News Desk

Finance Minister Ahmed Galal on Monday said that raising Egypt's public-sector minimum wage would cost the government some 18 billion Egyptian pounds (roughly $2.6 billion) each year.

The government, he added, was committed to raising the public-sector minimum wage by the second half of the 2013/14 fiscal year, adding that this would require an additional 9 billion pounds in this year's state budget.

Last September, the government decided to raise the public-sector minimum wage to 1,200 pounds (about $173) a month from a current 700 pounds ($101).

Galal said that his ministerial staff had already drawn up the necessary budget for the planned increase.

He added that the government was in the process of creating a database of the salaries of all public-sector employees in preparation for setting a maximum wage limit as well.

The government had earlier stated that salaries of senior civil servants should not be more than 35 times those of their most junior colleagues.

Last Mod: 21 Ekim 2013, 23:55
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