Egypt increases private sector minimum wage to EGP 3,500 starting January 1st

Updated 10/29/2023 6:27:00 AM
Egypt increases private sector minimum wage to EGP 3,500 starting January 1st

Arab Finance: The National Wages Council (NWC) has decided to raise the minimum wage for private sector employees to EGP 3,500 from EGP 3,000 as of January 1st, Ministry of Planning and Economic Development stated on October 27th.

The NWC also ordered an annual periodic bonus for the private sector employees, at least 3% of the insurance subscription, with a minimum of EGP 200.

The NWC’s decision complies with its policy to strike a balance between the interests of employees and employers, Minister of Planning and Economic Development Hala Elsaid noted.

It also aligns with the current economic variables and soaring inflation, she added.

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