Allocations for salaries will see an uptick in the upcoming fiscal year 2024/2025, reaching EGP 573 billion, accommodating the recent package, as stated by the Ministry of Finance on Thursday.
The current fiscal year 2023/2024 witnesses salaries allocations totaling EGP 470 billion.
"We remain dedicated to continuing the trajectory we initiated since the 2019/2020 fiscal year budget, aimed at enhancing the salaries of government employees to ease the burdens on citizens amidst the adverse effects of global crises," stated Finance Minister, Mohamed Maait.
Maait highlighted that salaries of government employees have experienced significant growth over the past six years, with ongoing efforts towards improvement. The minimum wage has surged fivefold, from EGP 1,200 in 2018 to EGP 6,000 in the latest 2024 package, with the minimum for job grades raised to EGP 12,000 for the top-tier grade.
The Minister confirmed that a minimum increase of EGP 1,000 has been stipulated for annual raises in employee salaries starting from 2023, with this figure elevated to between EGP 1,000 and 1,200 depending on the job grade in the latest 2024 package.
This package also entails additional raises for teachers, doctors, nursing staff, and university faculty members, underscoring the state's commitment to advancing the health and education sectors.
