File Photo: A man counts Egyptian pound banknotes at a currency exchange shop in downtown Cairo. AFP
The announcement, citing Finance Minister Ahmed Kouchouk, highlights the government’s latest move to support households' income amid ongoing economic pressure.
The country announced on Wednesday that the minimum wage will rise to EGP 8,000 per month, and the wage bill for the 2026/27 fiscal year would rise by 21 percent, according to Prime Minister Mostafa Madbouly
The government approved a 1,000 EGP increase in minimum wage as part of measures included in next FY’s state-set budget, alongside recurring wage increases to continue at a rate of 15 percent, and additional increases will be allocated to teachers and healthcare workers.
Egypt has been planning to raise wages for state and private-sector workers for a while, as part of social protection efforts meant to ease pressure on low- and middle-income households while supporting macroeconomic stabilization.
The new measures are also part of the reforms required under Egypt’s programme with the International Monetary Fund (IMF), and its $8 billion Extended Fund Facility (EFF) programme, which includes targeted social spending and fiscal consolidation.
The IMF approved the fifth and sixth reviews of the EFF programme, alongside the first review under the $1.3 billion Resilience and Sustainability Facility (RSF) programme. This unlocked about $2.27 billion in new financing, bringing total disbursements to around $5.2 billion.
Short link: