Egypt's next president will earn LE42,000 (nearly $6,000) per month, more than 20 times what his predecessor did, according to a presidential decree issued on Sunday.
The monthly salary includes a base amount of L21,000 plus another LE21,000 as compensation for the tasks his position as Egypt's president entails.
Previously, Egypt's president earned LE2,000 per month – or around LE24,000 yearly, plus allowances.
The decision to raise the salary will be applied to Egypt's upcoming president and not current interim president Adly Mansour.
The Egyptian cabinet has not yet issued any decisions regarding the matter.
According to Egyptian law, the president is not allowed to own a business or engage in any private business ventures while in office.
Egypt's presidential elections are scheduled to take place on 26-27 May. The two candidates running are former army chief Abdel-Fattah El-Sisi and Nasserist politician Hamdeen Sabahi.