Egypt Independent

Finance Ministry starts procedures to apply minimum wage increase in January



The Finance Ministry has begun procedures implementing the minimum wage increase. The ministry will draft a statement in accordance with the Cabinet's decision to increase the minimum wage to LE1200 starting January. The ministry will request authorities to inform the ministry of the number of employees who will be included within the decision and the total amount required for each authority.
 
Finance Minister Ahmed Galal said the Cabinet's decision stipulates that the minimum wage be based on the aggregate salary which includes the basic salary, bonuses and insurance rate. It will exclude other kinds of bonuses.
 
Galal added that more than 4.8 million employees will benefit from the minimum wage increase. Of a total of 4.8 million, 500,000 employees who do not have permanent contracts will get LE450 monthly as a minimum wage increase. Around 2.3 million employees will receive around LE 9 billion annually, while 2.5 million employees will receive another LE 9 billion annually.
 
Edited translation from Al-Masry Al-Youm