Egypt to raise private sector minimum wage to $97 per month ...Kuwait

Egypt will raise the minimum wage for workers in the private sector by 300 Egyptian pounds ($9.72) to 3000 pounds a month as of July in an attempt to combat spiralling inflation, the Ministry of Planning and Economic Development said on Tuesday. The decision comes after Egyptian President Abdel Fattah al-Sisi last week appeared to rule out a further currency devaluation anytime soon following three sharp devaluations, that cut the pound's value by about 50% against the dollar, since Russia's invasion of Ukraine in February 2022. Annual urban inflation accelerated to 32.7% in May, just short of an all-time high, while the annual core inflation rose to 40.3% in the same

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Last updated : 21 June 2023 clock 11:25 AM

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Egypt to raise private sector minimum wage to $97 per month ...Kuwait

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