Egypt’s National Wages Council (NWC) approved increasing the minimum wage for the private sector from EGP 2,400 to EGP 2,700 as of January 1st, 2023, according to an official statement on December 29th.

The NWC approved an annual periodical bonus of at least 3% of the applicable insurance installment, subject to the Social Insurance and Pensions Law, or EGP 100.

Minister of Planning and Economic Development, Hala El-Said, noted that the current geopolitical crises affected world economies, including the Egyptian.

She highlighted the significant role played by federations of different chambers, in collaboration with the NWC, to reach a wide agreement on the minimum wage, despite the exceptional conditions Egypt is going through right now.

 

 

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