President Sisi's decisions to ease financial pressure: Who benefits?

CAIRO - 17 Septemer 2023: President Abdel Fattah al-Sisi issued several decisions during his visit to Beni Suef on Saturday, inaugurating various Hayah Karima "Decent Life" projects. One of the most significant decisions involves increasing wages for employees in various state institutions and providing exceptional cost-of-living allowances. Additionally, several other decisions were announced.

 

Egypt Today highlights the categories that will benefit from President Abdel Fattah al-Sisi's decisions aimed at improving their quality of life:

 

 

President El-Sisi made a series of statements regarding new economic revisions to ease financial pressures on Egyptians during Saturday’s Hayah Karima event held in Beni Suef.

 

The Egyptian President adjusted the minimum wage for all personnel of the state’s administrative body and in the economic positions from LE 3,500 to LE 4,000.

 

The measures also included increasing the exceptional cost of living allowance from LE 300 to LE 600 for all state employees in the sectors of administrative apparatus, economic bodies, business sector companies, and the public sector.

 

El-Sisi also raised the tax exemption threshold by 25 percent from LE 36,000 to LE 45,000 per all employees of the state's administrative apparatus, economic bodies, business sector companies and the public sector.

 

Another measure was increasing Takaful and Karama’s beneficiaries by 15 percent for a total of 5 million families. Also, doubling the exceptional grant for pensioners and beneficiaries to become LE 600 instead of LE 300, for a total of 11 million citizens.

 

El-Sisi also directed the Agricultural Bank to ease the burdens on indebted less efficient farmers and individuals who were unable to repay interests on their loans prior to the 1st January 2022.

 

The president also ordered for the rapid application to increase the technology allowance for journalists registered in the syndicate, in accordance with the relevant allocations in the general state’s budget.

 

Finally, the president exempted all people falling behind on loans to pay any additional fines on their late payment installments due to the General Authority for Rehabilitation & Agricultural Development Projects before the end of the year 2024.