Egypt's cabinet approved raising the minimum income tax threshold to 7,200 Egyptian pounds ($398) a year from 6,500 pounds, Deputy Finance Minister for fiscal policies, Amr Al-Munir told a news conference on Monday.

The decision has yet to be approved by parliament.

The Finance Minister Amr El Garhy said that the government has decided on a social security package for 43 billion pounds for the year 2017/18 beginning in July, including a 15 percent rise for pensioners and a 14-20 percent rise in salaries.



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