The Egyptian Cabinet announced on Friday that the National Wages Council (NWC) has decided to raise the minimum wage for private sector employees from EGP 3,000 to EGP 3,500, starting January 1, 2024.
Moreover, the NWC directed to increase the annual periodic incentive to private sector workers from EGP 100 to 200.
As Head of the NWC, Minister of Planning and Economic Development, Dr. Hala El-Said stated: Increasing the minimum periodic bonus by 100 percent this year is targeted at low-wage segments of the workforce.
She also highlighted that the NWC’s decision eases the burden on citizens during the current inflationary wave.
It is worth noting that the minimum salary for the private sector was raised from EGP 2,400 to EGP 2,700 per month in January 2023 and then to EGP 3,000 in June.
The minister further claimed that through this move, the council seeks to achieve a balance between labor and employer interests.
