The exceptional measures announced by President Abdel Fattah El-Sisi for state employees, the business sector, and the public sector, which include raising the minimum income to 4,000 Egyptian pounds from 3,600 and increasing the tax exemption by 25% from 36,000 to 45,000, a 15% increase in "Takaful and Karama" pensions, and doubling exceptional grants to 600 Egyptian pounds from 300, are aimed at alleviating the effects of the crisis on citizens. This comes especially in light of the challenges that emerged after the global economic crisis, which naturally reflected on prices and inflation rates in Egypt.
The significance of President El-Sisi's announcements is to anchor the tenets of the new republic, whose foundation is to provide a decent life for all citizens.
The measures of social protection, wage increases for state workers, raising the minimum wage, pension increases, and expanding the beneficiaries of the "Takaful and Karama" program confirm the president's alignment with the citizens and resonate with the pulse of the street. The tax exemption threshold on annual income was raised from 24,000 pounds to 30,000 pounds starting from the 1st of April 2023. Also, the financial benefits granted to beneficiaries of the "Takaful and Karama" programs increased by 25% monthly from April 1st, 2023. This demonstrates to citizens that the new republic is a tangible reality, marked by comprehensive development.
There has been an unprecedented developmental leap during President El-Sisi's tenure, providing a decent life for citizens, improving services for them and future generations.
President El-Sisi's directives regarding wage and pension increases reflect the state's attention and care for the welfare and social protection portfolio, mitigating the implications of global economic conditions that the entire world is experiencing, and which have impacted many countries in the region. Over recent years, the overall wage structure in Egypt has seen radical changes, with the minimum wage increase rates for state workers exceeding 125%. These moves, directives, and decisions by political leadership support the social care and protection portfolio.
Around 20 million people across various sectors will benefit from these decisions, costing approximately 100 billion pounds. This excludes the cost of raising the minimum tax exemption. This can be described as a "rescue package", in addition to the national "Decent Life" initiative, which benefits about 60 million citizens.
The care, protection, and comprehensive development portfolio has witnessed a significant transformation and significant achievements during this period, unprecedented in entire eras.
President El-Sisi's decisions regarding the increase in wages for administrative staff indicate the political leadership's care and concern for the citizens, reflecting their understanding of the citizens' needs, especially in the midst of difficult economic conditions. These new decisions are a step in the right direction, and we hope they will be followed by other steps in this framework to achieve a balance between rising prices and citizens' income, addressing the exceptional economic circumstances.
President El-Sisi's decisions, which came as a surprise to all Egyptians, with wage increases and raising the minimum wage, came at the right time to relieve the burdens on Egyptian families. These decisions will have a positive and significant impact on all Egyptians.
President Abdel Fattah El-Sisi has been making every effort to shield Egyptians from the global economic crisis, which has affected the Egyptian economy. He reciprocates the Egyptian people's resilience in bearing the repercussions of the economic reform program and global economic crises, reflecting mutual trust between President El-Sisi and the Egyptian people.
This package complements President El-Sisi's policy of providing a decent life for Egyptian citizens, especially those with limited incomes.
Social protection programs are a vital part of the state's efforts to mitigate economic, social, and food crises. The Egyptian state adopts policies and programs for social justice, guaranteeing social, economic, civil, and political rights for all segments, especially the most vulnerable families. This includes the poorest segments, people with disabilities, the elderly, those lacking family care, and those exposed to temporary or involuntary unemployment.
There's a necessity to regulate markets and confront monopolies and merchants' greed by intensifying regulatory campaigns in the markets and commercial outlets throughout the republic to ensure the president's decisions achieve their goals. Citizens must confront the high-cost crisis, and the state must regulate markets, restoring balance to the prices of essential food goods and products.
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