In parallel, Finance Minister Ahmed Kouchouk announced that public sector wages will rise starting July 1, at a total cost of EGP 100 billion.
During a press conference, Madbouly said Egypt continues to have an abundance of goods in local markets, with prices remaining stable despite mounting regional pressures.
In a statement on Sunday, the Chairman of the organization, Gamal Awad, stated that the minimum contribution wage would rise from EGP 2,300 to EGP 2,700, while the maximum contribution wage would increase from EGP 14,500 to EGP 16,700.
According to the annual financial indicators report for public sector companies, excluding banks and insurance firms, published by the Central Agency for Public Mobilization and Statistics (CAPMAS), the value of fixed assets surged to EGP 1.06 trillion in FY 2023/2024, marking a 22.8% increase from EGP 871.3 billion in FY 2022/2023.
To enhance social support and protection programs, Egypt has allocated EGP 529.7 billion, marking a 48.8% increase compared to the previous fiscal year.
