{"id":627495,"date":"2018-06-04T04:06:40","date_gmt":"2018-06-04T04:06:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/cabinet-to-announce-new-egp-50-60-bn-social-protection-package-within-days-tax-breaks-for-low-income-earners-in-the-offing\/"},"modified":"2018-06-04T04:06:40","modified_gmt":"2018-06-04T04:06:40","slug":"cabinet-to-announce-new-egp-50-60-bn-social-protection-package-within-days-tax-breaks-for-low-income-earners-in-the-offing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/cabinet-to-announce-new-egp-50-60-bn-social-protection-package-within-days-tax-breaks-for-low-income-earners-in-the-offing\/","title":{"rendered":"Cabinet to announce new EGP 50-60 bn social protection package \u201cwithin days,\u201d tax breaks for low income earners in the offing"},"content":{"rendered":"<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>The Ismail Cabinet is reportedly days away from announcing a new EGP 50-60 bn social protection package, <\/strong><a href=\"https:\/\/www.alborsanews.com\/2018\/06\/03\/1108796\">government sources said yesterday<\/a>. The package, which is meant to help offset the impact on low income earners of an expected hike in fuel and energy prices at the start of the new fiscal year in July, will include pension and salary increases as well as cash assistance programs, <a href=\"http:\/\/d1y99r0ynoudrd.cloudfront.net\/news\/details\/1297122\">other sources tell Al Masry Al Youm<\/a>. Finance Minister Amr El Garhy is putting the final touches on the new program now, AMAY adds.<\/p>\n<p><strong>Background: <\/strong>We had heard chatter <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/24\/govt-to-announce-egp-15-bn-social-protection-package-in-july-to-offset-rising-prices\/\">earlier this month<\/a> that the government was preparing to unveil a EGP 15 bn social protection package in July, which would include an increase in monthly subsidy card allowances (which has since been denied) and an exceptional wage raise for all state employees. The government rolled out an extensive <a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/21\/sisi-raises-food-subsidy-allowances-to-egp-50-from-egp-21-alongside-handful-of-social-safety-measures\/\">EGP 85 bn protection package last year<\/a> before hiking fuel prices by 55%, which included <a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/20\/house-votes-on-income-tax-amendments-hardship-raises-and-pension-increases\/\">annual and hardship raises<\/a> of 7% for state bureaucrats.<\/p>\n<p>On that note,<strong> the House of Representatives\u2019 Manpower Committee signed off on a 15% pension raise for state employees yesterday<\/strong>, <a href=\"http:\/\/d1y99r0ynoudrd.cloudfront.net\/news\/details\/1297288\">Al Masry Al Youm reports<\/a>. The committee approved a proposal to award state bureaucrats an <a href=\"https:\/\/enterprise.press\/stories\/2017\/04\/18\/government-hypes-up-social-spending\/\">exceptional 15% raise<\/a> (or a minimum EGP 750) on their pensions at the start of the new fiscal year during its first meeting on the bill, which would come into effect as of 1 July, <a href=\"http:\/\/almalnews.com\/Story\/377957\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%86%D8%A7%D9%82%D8%B4-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D9%84%D8%B9%D9%84%D8%A7%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D9%84%D9%8A%D9%86-%D9%81%D9%8A-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9\">according to Al Mal<\/a>. In addition to their annual raises, the proposal would award state employees not covered by the Civil Service Act an \u201cexceptional\u201d hardship raise of 10% over their base salaries (or a minimum of EGP 65). It would also award all state employees (whether or not covered by the act) another special raise ranging from EGP 140-160 a month, based on their pay grades.<\/p>\n<p><strong>This comes as we hear that the government intends to raise the threshold for income tax exemptions in FY2018-19<\/strong>, Finance Minister Amr El Garhy said yesterday, <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=03062018&id=4ae794d2-401d-4df5-bc05-63c5f50bd126\">Al Shorouk reports<\/a>. The newspaper suggests that the first EGP 8k per year in salary will be exempt from taxes, while employees earning under EGP 200k a year will receive tax <a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/20\/house-votes-on-income-tax-amendments-hardship-raises-and-pension-increases\/\">breaks within the 5-80% range<\/a>. Salary amounts between EGP 30,001-45,000 a year, will get a 45% break, up from 40% currently, while sums in the EGP 45,001-200k will get a 7.5% break, up from 5%, according to the minister.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ismail Cabinet is reportedly days away from announcing a new EGP 50-60 bn social protection package, government sources said yesterday. The package, which is meant to help offset the impact on low income earners of an expected hike in fuel and energy prices at the start of the new fiscal year in July, will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627495","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"68b09fd8-59cf-4920-96ab-ca12c80f74c4","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[627489],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cabinet to announce new EGP 50-60 bn social protection package \u201cwithin days,\u201d tax breaks for low income earners in the offing - 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\/2018\/06\/04\/cabinet-to-announce-new-egp-50-60-bn-social-protection-package-within-days-tax-breaks-for-low-income-earners-in-the-offing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet to announce new EGP 50-60 bn social protection package \u201cwithin days,\u201d tax breaks for low income earners in the offing\" \/>\n<meta property=\"og:description\" content=\"The Ismail Cabinet is reportedly days away from announcing a new EGP 50-60 bn social protection package, government sources said yesterday. 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Prime Minister Sherif Ismail had previously\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":646434,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/electricity-prices-will-definitely-rise-in-july-official-says-government-plans-additional-welfare-package\/","url_meta":{"origin":627495,"position":1},"title":"Electricity prices will definitely rise in July, official says; government plans additional welfare package","author":"enterpriseam admin","date":"14 June 2017","format":false,"excerpt":"There\u2019s no question that electricity prices will rise in July, an unnamed senior Electricity Ministry official told Al Shorouk on Tuesday, dismissing persistent rumors the price hike would be delayed. Electricity Minister Mohamed Shaker said last month that the hike was inevitable but will be modest. The source speculated that\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":648168,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/30\/government-earmarks-extra-egp-46-bn-for-social-security-spending-to-combat-price-increases\/","url_meta":{"origin":627495,"position":2},"title":"Government earmarks extra EGP 46 bn for social security spending to combat price increases","author":"enterpriseam admin","date":"30 May 2017","format":false,"excerpt":"The Ismail government has signed off on an EGP 46 bn social security package for FY2017-18, according to a statement from the Finance Ministry. The package includes a 15% increase in pensions at a cost to the state of EGP 20 bn in a bid to cushion pensioners from the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":615116,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/13\/house-passes-el-sisis-egp-180-bn-social-protection-package\/","url_meta":{"origin":627495,"position":3},"title":"House passes El Sisi\u2019s EGP 180 bn social protection package","author":"enterpriseam admin","date":"13 February 2024","format":false,"excerpt":"The package includes wage and pension hikes","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1019.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582238,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/el-sisi-announces-egp-150-bn-program-of-wage-hikes-pension-increases-amid-soaring-inflation\/","url_meta":{"origin":627495,"position":4},"title":"El Sisi announces EGP 150 bn program of wage hikes, pension increases amid soaring inflation","author":"enterpriseam admin","date":"5 March 2023","format":false,"excerpt":"The measures include wage increases and a higher minimum wage for civil servants","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658444,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/madbouly-government-preparing-to-raise-the-minimum-wage-tax-thresholds-social-protection-coverage-and-pensions-in-new-social-protection-package\/","url_meta":{"origin":627495,"position":5},"title":"Madbouly government preparing to raise the minimum wage, tax thresholds, social protection coverage, and pensions in new social protection package","author":"enterpriseam admin","date":"12 January 2025","format":false,"excerpt":"The package is expected to be approved by March","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/542.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\/627495","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=627495"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627495\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627489"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627495"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627495"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}