Egypt considers raising minimum wage for private sector to EGP 7,000
Updated 1/20/2025 2:24:00 PM
Arab Finance: Egypt's National Wages Council (NWC) is considering an increase ranging between 16% and 20%, valued at around EGP 1,000 to EGP 2,000, in the minimum wage for private sector workers, unnamed sources in the know told Al Arabiya Business.
This adjustment would bring the minimum wage to between EGP 7,000 and EGP 7,200, aiming to alleviate the financial strain caused by higher prices of goods and services, following sharp increases in petroleum prices and electricity costs.
The proposal comes after the largest increase in Egypt’s minimum wage for private sector workers in May 2024, when it surged by 71.4%, reaching EGP 6,000.
This hike followed a series of increases starting in 2022, with the wage gradually rising from EGP 2,400 to EGP 3,500 in early 2024.
While there is consensus on the increase percentage, there is debate over its implementation timing, the sources noted.
Some council members argue for a rise before the upcoming Ramadan, potentially aligning it with a government wage increase for state workers expected before March.
Others suggest postponing the hike until May 2025, considering the recent increase in May 2024.
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