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Egypt’s EGP 180 bn social protection package is largest of its kind
President Abdel Fattah El Sisi ordered allocating an EGP 180 billion urgent social protection package – which is the largest of its kind – with the aim to alleviate burdens on people in light of external economic crises that cast their shadow on domestic conditions.
The package – to be into effect as of March – includes raising salaries of public-sector employees and economic entities by 50 percent at a minimum of EGP 1,000 to EGP 1,200 to reach EGP 6,000.
This shall take place through early payment of the periodic allowance for those covered by the Civil Service Law by 10% of the job salary, and 15% of the basic salary for those not covered by the law, with a minimum of 150 pounds and a total cost of 11 billion pounds.
The social package also includes earmarking EGP 15 billion for increasing salaries of doctors, nurses, teachers, and university faculty staff. Out of this sum, EGP 8.1 billion is allocated for upping the salaries of pre-university teachers, ranging from 325 to 475 pounds in addition to EGP 1.6 billion for increasing the salaries of university faculty members and their assistants at universities, institutes and research centers.
Out of the EGP 15 billion, about EGP 4.5 billion pounds will be allocated for increasing salaries of members of the medical profession and nursing bodies, ranging from 250 to 300 pounds in risk allowance for medical profession, in addition to an increase of up to 100% in the night and overnight shift allowance.
President Sisi also gave directives to allocate EGP 6 billion to appoint 120,000 new doctors, nurses, teachers, and workers in other administrative bodies.
The social package also comprises a 15% rise in pensions for 13 million citizens, at a total cost of EGP 74 billion, in addition to a 15% increase in the “Takaful and Karama” pensions, at a cost of EGP 5.5 billion, bringing the increase in one year to 55% of the pension’s value. About EGP 41 billion will be earmarked for “Takaful and Karama” pensions in the fiscal year 2024-2025.
The social package also includes raising the tax exemption limit for all government employees and the public and private sectors by 33%, from EGP 45,000to 60,000, at a total annual cost of EGP 5 billion.
The president issued his directives during a meeting on Wednesday with Prime Minister Moustafa Madbouly, and Minister of Finance Mohamed Maait.
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