{"id":578473,"date":"2023-01-02T02:51:41","date_gmt":"2023-01-02T02:51:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/private-sector-minimum-wage-rises-12-5\/"},"modified":"2023-01-02T02:51:41","modified_gmt":"2023-01-02T02:51:41","slug":"private-sector-minimum-wage-rises-12-5","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/private-sector-minimum-wage-rises-12-5\/","title":{"rendered":"Private-sector minimum wage rises 12.5%"},"content":{"rendered":"

<\/a> New year, new private-sector minimum wage: <\/strong>The National Council for Wages has raised the minimum wage for private-sector workers by 12.5% amid soaring inflation. In a statement<\/a> Thursday, the Planning Ministry said that private-sector firms now have to pay their employees at least EGP 2.7k a month, up from EGP 2.4k previously. The new minimum came into effect yesterday with the start of the new year.<\/p>\n

The council was aiming for a bigger hike: <\/strong>The council was hoping<\/a> to raise the minimum wage to EGP 3k \u2014 to match the minimum wage<\/a> for civil servants and employees at state-owned enterprises as of November \u2014 following talks with business leaders.<\/p>\n

New rules for annual bonuses:<\/strong> As of their 2023 financial years, private-sector companies will have to disburse annual bonuses equal to at least 3% of the employee\u2019s ins. contribution and no less than EGP 100, after the council agreed to set a minimum value for annual bonuses.<\/p>\n

The minimum wage hike is the latest in a series of measures carried out by the <\/strong>government to soften the impact of the economic crisis.<\/strong> Two major currency devaluations have helped to push inflation to near five-year highs<\/a>, putting pressure on low-income households. The government has hiked the public-sector minimum wage<\/a> to EGP 3k, expanded the Takaful and Karama social security program<\/a>, and frozen household electricity prices until the end of the fiscal year in June.<\/p>\n

The private-sector minimum wage is relatively new in Egypt<\/strong>, having been introduced at the<\/a>beginning of FY 2021-2022<\/a> at EGP 2.4k a month. The move was met with push back from companies<\/a>, who complained that they couldn\u2019t afford the higher wage bill.<\/p>\n","protected":false},"excerpt":{"rendered":"

New year, new private-sector minimum wage: The National Council for Wages has raised the minimum wage for private-sector workers by 12.5% amid soaring inflation. In a statement Thursday, the Planning Ministry said that private-sector firms now have to pay their employees at least EGP 2.7k a month, up from EGP 2.4k previously. The new minimum […]<\/p>\n","protected":false},"author":1,"featured_media":578474,"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":[104,72,235],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-labor","wpautop","entry"],"acf":{"mongo_id":"0c84782e-118f-43c4-8a65-46d54cdbe3c1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/5.jpg","photo_position":"above","related_issue":[578466],"teaser":"","voice_url":""},"yoast_head":"\nPrivate-sector minimum wage rises 12.5% - 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\/2023\/01\/02\/private-sector-minimum-wage-rises-12-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private-sector minimum wage rises 12.5%\" \/>\n<meta property=\"og:description\" content=\"New year, new private-sector minimum wage: The National Council for Wages has raised the minimum wage for private-sector workers by 12.5% amid soaring inflation. In a statement Thursday, the Planning Ministry said that private-sector firms now have to pay their employees at least EGP 2.7k a month, up from EGP 2.4k previously. 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"Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/828.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562130,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/proposals-for-a-private-sector-minimum-wage-are-moving-forward\/","url_meta":{"origin":578473,"position":2},"title":"Proposals for a private sector minimum wage are moving forward","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"Proposals to mandate a minimum wage for private-sector employees will be drafted this month, the Planning Ministry said in a statement over the weekend following a meeting with the National Council for Wages (NCW).This would be the first time that private sector employers are required to pay their employees a\u2026","rel":"","context":"In "Policy"","block_context":{"text":"Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/70.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563369,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/we-finally-have-a-private-sector-minimum-wage\/","url_meta":{"origin":578473,"position":3},"title":"We finally have a private-sector minimum wage","author":"enterpriseam admin","date":"29 June 2021","format":false,"excerpt":"Private-sector workers are getting a minimum wage: Employees of private-sector companies will for the first time receive a minimum wage starting from the beginning of next year, the Planning Ministry announced yesterday. From 1 January 2022, companies will need to pay workers at least EGP 2.4k per month, according to\u2026","rel":"","context":"In "Policy"","block_context":{"text":"Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/360.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608949,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/","url_meta":{"origin":578473,"position":4},"title":"Private-sector minimum wage to rise 17% in 2024","author":"enterpriseam admin","date":"29 October 2023","format":false,"excerpt":"Private-sector employees on the minimum wage will have seen their monthly income rise 45% in the past six months","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\/10\/1355.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542830,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/public-sector-minimum-wage-to-rise-12-5-from-july\/","url_meta":{"origin":578473,"position":5},"title":"Public sector minimum wage to rise 12.5% from July","author":"enterpriseam admin","date":"19 January 2022","format":false,"excerpt":"SMART POLICY- El Sisi raises public-sector minimum wage to EGP 2.7k: The monthly minimum wage paid to public sector workers will rise by 12.5% from July on the instruction of President Abdel Fattah El Sisi. An Ittihadiya statement yesterday said that the president had told the Finance Ministry to raise\u2026","rel":"","context":"In "Policy"","block_context":{"text":"Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/225.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\/578473","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=578473"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578473\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578474"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578473"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578473"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}