Egypt raises private sector minimum monthly wage to EGP 3K

Egypt’s National Wages Council (NWC) approved raising the minimum wage for workers in the private sector by 300 Egyptian pounds to 3000 pounds per month by next July in an attempt to combat spiralling inflation.

The Egyptian government seeks to preserve workers’ rights, it is also keen on the stability of all establishments, increasing production, and supporting all companies that need support, the Minister 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.