{"id":550431,"date":"2022-10-27T03:59:00","date_gmt":"2022-10-27T03:59:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference\/"},"modified":"2022-10-27T03:59:00","modified_gmt":"2022-10-27T03:59:00","slug":"govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference\/","title":{"rendered":"Gov\u2019t announces raft of measures to help with cost of living post-economic conference"},"content":{"rendered":"

<\/a>Gov\u2019t unveils public-sector minimum wage rise + extends freeze on <\/strong>household <\/strong>electricity prices: <\/strong>The government is pushing ahead with a raft of fresh social protection measures that are set to cost the state some EGP 67 bn per year, Prime Minister Mostafa Madbouly said yesterday, according to a statement<\/a>. A continued freeze on household electricity prices into mid-2023 and a bump to the public-sector minimum wage were among the measures announced by Madbouly at a presser following the weekly cabinet meeting, a day after the state wrapped its three-day conference<\/a> on the future of the Egyptian economy.<\/p>\n

The news comes after President Abdel Fattah El Sisi said at the conference that <\/strong>\u201csalaries are unacceptable<\/strong> \u2026 and less than EGP 10k for any working man is unlivable\u201d (watch, runtime: 3:37<\/a>). Madbouly, speaking In his closing remarks at conference, said his government was working on a new package of social support measures set to come into effect starting in November.<\/p>\n

What\u2019s the government doing as household incomes are eroded by inflation?<\/strong> It\u2019s a mixed bag that includes price freezes (electricity) and measures that could drive inflation higher (bonus payments and wage hikes for the public sector). Here\u2019s the rundown:<\/p>\n

#1- Electricity prices for residential consumers will remain unchanged through 30 June 2023, <\/strong>Madbouly said, extending for another six months the holdintroduced over the summer<\/a>on planned electricity price hikes. Residential electricity bills had been set to rise by as much as 21% last July, as per the government\u2019s six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025. Households in the highest consumption tiers \u2014 which as of last year have not received subsidies \u2014 would have seen prices rise by up to 6%.<\/p>\n

#2- The minimum wage for state employees is rising for the second time this year: <\/strong>Civil servants and employees at state-owned enterprises will see the minimum wage rise to EGP 3k per month starting next month in response to rising inflation. Over the summer, the minimum wage was hiked for public-sector employees \u2014 including people working at state-owned companies \u2014 fromEGP 2.4k<\/a> toEGP 2.7k.<\/a> The private sector minimum wage requirement currently stands at EGP 2.4k.<\/p>\n

#3- <\/strong>The state should distribute an EGP 300 bonus next month<\/strong> to employees in the public sector and at state-owned enterprises, and to pensioners, to help them navigate the rising cost of living. The move will need to go to a parliament vote, which the government will try to push through with an eye to disbursing the bonus in November, Finance Minister Mohamed Maait said in a separate statement<\/a>.<\/p>\n

#4- Ration card increases to continue until next summer: <\/strong>Each one-family ration card will continue to see an EGP 100-300 monthly increase in credit until 30 June, 2023. The scheme, which came into effect last month<\/a>, was originally set to run till the new year but the state decided to keep it going for another six months. Earlier this year the government expanded the social safety net<\/a>to include 1 mn more families, and upped ration card holders\u2019 allowance as part of an EGP 11 bn package<\/a> aimed at mitigating the impact of the economic crisis on the poorest.<\/p>\n

#5- Fast tracking amendments to raise the income tax threshold: <\/strong>The government will work to speed up the implementation of a draft decision<\/a> raising the personal income tax exemption threshold to EGP 2.5k per month from EGP 2k, Maait and Madbouly said yesterday.<\/p>\n

#6- Something for the private sector: <\/strong>Companies facing financial difficulties and unable to pay their employees\u2019 wages thanks to the global economic crisis will be eligible for compensation through the Manpower Ministry\u2019s emergency fund until June 30, 2023.<\/p>\n

Where\u2019s the money coming from? <\/strong>The new measures will be funded from the emergency EGP 135 bn reserve already allocated to measures that help deal with global economic headwinds, Maait said, stressing that they would not impact fiscal targets set out in the annual budget.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gov\u2019t unveils public-sector minimum wage rise + extends freeze on household electricity prices: The government is pushing ahead with a raft of fresh social protection measures that are set to cost the state some EGP 67 bn per year, Prime Minister Mostafa Madbouly said yesterday, according to a statement. A continued freeze on household electricity […]<\/p>\n","protected":false},"author":1,"featured_media":550432,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[96,104,244,93,72,182,71,2589,190],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-abdel-fattah-el-sisi","tag-economy","tag-electricity","tag-energy","tag-enterpriseam","tag-inflation","tag-minimum-wage","tag-prime-minister-moustafa-madbouly","tag-social-welfare","wpautop","entry"],"acf":{"mongo_id":"3f8e5c9a-90ae-4625-b029-17645be14c8e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/347.jpg","photo_position":"above","related_issue":[550427],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t announces raft of measures to help with cost of living post-economic conference - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t announces raft of measures to help with cost of living post-economic conference\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t unveils public-sector minimum wage rise + extends freeze on household electricity prices: The government is pushing ahead with a raft of fresh social protection measures that are set to cost the state some EGP 67 bn per year, Prime Minister Mostafa Madbouly said yesterday, according to a statement. 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The measures include raising the minimum wage for public sector employees to EGP 3k and keeping electricity\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":582860,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/cabinet-signs-off-on-new-wage-pension-hikes-with-higher-price-tag-than-originally-projected\/","url_meta":{"origin":550431,"position":1},"title":"Cabinet signs off on new wage, pension hikes with higher price tag than originally projected","author":"enterpriseam admin","date":"9 March 2023","format":false,"excerpt":"The cost to the state budget: EGP 190 bn","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/cabinetmeeting-1600px-1.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596631,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/el-sisi-madbouly-maait-recap-egypts-economic-performance-in-fy2018-2019\/","url_meta":{"origin":550431,"position":2},"title":"El Sisi, Madbouly, Maait recap Egypt\u2019s economic performance in FY2018-2019","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"The government met its 8.4% budget deficit and 2% primary budget surplus targets in FY2018-2019, which ended on Sunday, according to an Ittihadiya statement out following a meeting between President Abdel Fattah El Sisi, Prime Minister Moustafa Madbouly, and Finance Minister Mohamed Maait. The economy grew at a 5.6% clip,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":606441,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/el-sisi-announces-new-wage-hikes-financial-support-as-cost-of-living-spirals\/","url_meta":{"origin":550431,"position":3},"title":"El Sisi announces new wage hikes, financial support as cost of living spirals","author":"enterpriseam admin","date":"17 September 2023","format":false,"excerpt":"The measures include a new hike in the public-sector minimum wage and higher pension payouts","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1032.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547313,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/16\/no-electricity-price-hike-before-2023\/","url_meta":{"origin":550431,"position":4},"title":"No electricity price hike before 2023","author":"enterpriseam admin","date":"16 June 2022","format":false,"excerpt":"Electricity prices for residential consumers will remain unchanged until at least the end of 2022, Prime Minister Moustafa Madbouly said during a presser following cabinet\u2019s weekly meeting (watch, runtime: 16:38). Madbouly\u2019s statement follows an announcement by President Abdel Fattah El Sisi earlier this week that the government would not introduce\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/electricity-energy.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563054,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/public-sector-wage-increase-signed-into-law\/","url_meta":{"origin":550431,"position":5},"title":"Public sector wage increase signed into law","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"Next month\u2019s public sector wage hikes are now the law of the land: Legislation that raises basic salaries for public sector workers on 1 July has been ratified by President Abdel Fattah El Sisi, El Watan reports. The bill \u2014 approved by the House last month \u2014 raises wages by\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/220.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550431"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550431\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550432"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550431"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550431"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}