The National Wages Council (NWC) of Egypt has granted its approval for a raise in the minimum wage for workers in the private sector. The decision aims to address the impact of escalating inflation and will see the minimum wage increase by 300 Egyptian pounds to reach 3000 pounds per month by July of next year.
In emphasizing the government’s commitment to safeguarding workers’ rights and promoting stability within establishments, the Minister of Planning and Economic Development affirmed their dedication to enhancing production and providing support to companies in need. This move reflects Egypt’s efforts to balance the interests of both workers and businesses.
This decision follows Egyptian President Abdel Fattah al-Sisi’s recent statement indicating that there are no immediate plans for further currency devaluations. The government seeks to manage economic challenges effectively while striving to maintain a stable economic environment.
By approving the increase in the minimum wage, Egypt aims to mitigate the impact of rising inflation on workers’ livelihoods. This step demonstrates the government’s commitment to addressing socio-economic concerns and ensuring the well-being of the labor force.
