Egypt increases workers salaries, military pension

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The Egyptian currency, the Pounds

Egypt’s President Abdel-Fattah el-Sissi has raised pensions for military personnel and salaries for civil servants by 15 percent amid a wave of price hikes linked to austerity measures.

The raises, published late Saturday in the official gazette, will take effect on July 1. El-Sissi, a retired general, has raised military pensions several times in recent years.

In recent days the government has raised the price of fuel, drinking water and electricity as part of a reform program tied to a three-year, $12 billion bailout loan from the International Monetary Fund, which Egypt secured in 2016.

The tough measures have hit poor and middle-class Egyptians especially hard. El-Sissi has urged Egyptians to be patient as the reforms take effect.

A member of the economic committee in the Egyptian Parliament, Ashraf Al-Araby said in a press statement that the social package will benefit state employees not those working in the private sector who have fixed incomes.

Egypt has been implementing a tough reform plan for two years which has resulted in increasing fuel prices as well as a reduction in state subsidies.

Titi