Economy and Stock Exchange

400 billion pounds, the size of wages in the new budget

The plan for the new fiscal year worked to increase the allocations for support, social protection and the size of wages, which contributes to supporting the sectors and groups most affected by the repercussions of the current global economic crisis, in a way that helps reduce its negative effects, in which an unprecedented inflationary wave is intertwined in the wake of the Corona pandemic, with Challenges of the Ukrainian crisis.

1- Allocating 400 billion pounds to the wages section of the new budget draft

2- An increase of nearly EGP 43 billion over the updated estimates for the current fiscal year’s budget

3- Financing a package to improve the incomes of 4.5 million state employees, which President Abdel Fattah El-Sisi had directed

4- It included an increase in periodic and special bonuses and an additional incentive at an annual cost of 26 billion pounds

5- Early disbursement with the salaries of last April, at an additional cost of more than 7 billion pounds for the period from April to June 2022

6- Increasing the personal tax exemption limit from 9,000 pounds to 15,000 pounds, and the total from 24,000 pounds to 30,000 pounds, an increase of 25% at an annual cost of 7 billion pounds.

7- Allocating 5 billion pounds to hire 60,000 teachers, doctors and pharmacists, and to meet other needs in various sectors of the state.

8- billion pounds to carry out the movement of promotions for state employees.

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