An employee counts Egyptian pounds in a bank in Cairo (Photo: Reuters)
This is the first time that Egypt has mandated a minimum wage for the private sector.
The NWC has said that 2,855 private sector entities that are still suffering from the negative impacts of the COVID-19 pandemic will be exempt from applying the minimum wage through mid-February 2022.
These entities had submitted applications to the NWC asking to postpone implementing the minimum wage, the council said.
Hala El-Said, the NWC’s chairwoman and Minister of Planning and Economic Development, said that the private sector minimum wage is an important and unprecedented step that aims to ensure a proper living standard for all employees in the sector.
In July 2021, the government raised the minimum wage for the public sector to EGP 2,400 a month, up from the previous EGP 2,000. In mid-2019, Egypt increased its minimum wage for the public sector to EGP 2,000, up from a previous EGP 1,200.
Egypt has adopted a strategy that aims to encourage the private sector to play a greater role in the country’s development process.
A number of presidential initiatives are also being implemented by the government and Central Bank of Egypt to support private sector, including in tourism, industry and agriculture.