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Egypt sets minimum wage at EGP 2,400 for private sector - Daily News Egypt

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Egypt sets minimum wage at EGP 2,400 for private sector

Egypt’s National Wages Council (NWC), headed by Minister of Planning and Economic Development Hala El-Said, has set the minimum wage for private sector workers at EGP 2,400 ($153) per month. The new ruling takes into account the economic conditions of the establishments that are currently unable to comply, and their exception to that, starting from 1 January 2022. The rise in pay comes with the adoption of flexible mechanisms to encourage …


Egypt’s National Wages Council (NWC), headed by Minister of Planning and Economic Development Hala El-Said, has set the minimum wage for private sector workers at EGP 2,400 ($153) per month.

The new ruling takes into account the economic conditions of the establishments that are currently unable to comply, and their exception to that, starting from 1 January 2022.

The rise in pay comes with the adoption of flexible mechanisms to encourage business owners to implement the new ruling, and to give the affected establishments the opportunity to submit their complaints no later than October to the council’s complaints and wages committees.

The NWC also approved the disbursal of a periodic bonus to workers in the private sector at 3% of the insurance contribution wage for the worker, which will be proven by two insurancesubmissions. Starting from July 2021, the bonus should be at least EGP 60.

The council discussed the results and recommendations of the session held by its Wages and Allowances Committee regarding the approval of the minimum wage for private sector workers. This covers the new periodic bonus for workers in the private sector for the year 2021, and other issues related to the Council’s mandate.

During the meeting, it was also agreed to approve the periodic bonus for fiscal year (FY) 2021/22 at a rate of 3% of the insurance wage, equivalent to 7% of the basic wage in Labor Law 12 of 2003, and less than EGP 60.

Meanwhile, based on the recommendation of the Wages andAllowances Committee headed by Minister of Manpower Mohamed Saafan, it was agreed that the minimum wage stands at EGP 2,400, which will be implemented from January 2022.

For her part, El-Said confirmed that the NWC’s decisions regarding the periodic bonus or minimum wage tried to take into account several considerations.

Foremost of these is the interest of workers and the need to achieve an appropriate increase in wages, whilst taking into account the current global economic conditions due to the novel coronavirus (COVID-19) pandemic.

It also takes into account the need to reduce the burdens on economic establishments to be able to continue their economic activities efficiently, as well as continue to perform their duties towards their employees.

Topics: minimum wage

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https://dailyfeed.dailynewsegypt.com/2021/06/28/egypt-sets-minimum-wage-at-egp-2400-for-private-sector/
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