In a meeting led by Minister of Planning Hala El-Said, the National Wages Council (NWC) of Egypt has recently declared a considerable increase in the minimum wage for private-sector workers.
Starting from May 2024, the minimum wage will stand at LE 6,000. This move reflects the government’s commitment to safeguarding the interests of workers, particularly in light of recent economic developments.
During the meeting, Minister El-Said reviewed the historical progression of the minimum wage in the private sector. Starting at LE 2,400 in January 2022, it was raised to LE 2,700 in January 2023 and then to LE 3,000 in July 2023. Finally, in January of the subsequent year, it reached LE 3,500. This substantial increase in the minimum wage will encompass all wage components, including the employer’s contribution to the insurance subscription.
It’s worth noting that micro-enterprises with at most 10 employees are exempt from this decision. This move aligns with President Abdel Fattah El-Sisi’s directives, who emphasized the need for greater care, protection, and support for workers, according to Minister of Labor Hassan Shehata.
In February, President El-Sisi raised Egypt’s minimum wage by 50 percent to LE 6,000 to alleviate citizens’ cost-of-living pressures. The presidential decision also mandated the implementation of a social protection package worth LE 180 billion, effective March 2024. Furthermore, the decision requires raising all salaries for government employees by a minimum of LE 1,000 to LE 1,200.
This announcement is great news for private-sector workers in Egypt, as it demonstrates the government’s commitment to supporting its citizens and promoting economic growth. With this latest move, the government is expected to alleviate the financial burden on workers and stimulate the economy.
