We have it in writing: Private-sector workers on the minimum wage will get a salary bump from the beginning of 2024, according to a decision published in the Official Gazette yesterday. From 1 January, the minimum wage will rise 17% to EGP 3.5k a month (before taxes and social insurance deductions) from EGP 3k currently in a move announced in October to cushion the impact of soaring inflation on low-income households.

The background:

  • Times are tough: The currency crisis has caused the prices of basic goods and essential foods to soar this year, piling pressure on vulnerable households and pushing many into poverty.
  • Paying a higher basic wage is one way to cushion the blow: This is the third time the National Council for Wages has raised the private-sector minimum wage this year. As of 1 January, the minimum will have risen46% over the space of a year.
  • Catching up to the public-sector: State employees on the lowest end of the income scale will still be better off next year after the government raised the public-sector minimum wage from EGP 3.5k to EGP 4k earlier this year.
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