Minimum Wages In Private Sector Increases From 3000 To 3500

Raghad Khaled

Minimum Wages In Private Sector Increases From 3000 To 3500

The National Wages Council decided to increase the minimum salaries for workers in the private sector to EGP 3,500 pounds instead of EGP 3,000, to be implemented as of January 2024.

They also defined the annual periodic bonus to be not less than 3% of the insurance subscription fee – reaching 200 pounds, instead of 100 pounds as a minimum.

With this new decision, the minimum wage has witnessed continuous increases in line with the economic challenges facing the entire world, especially during the past two years, as it rose from 2,400 pounds in January 2022 to 2,700 pounds in January 2023, then to 3,000 pounds in July 2023, until it reached 3500 starting in 2024.

However, the National Wages Council agreed to exempt a number of civil society associations from applying the minimum wage at the request of Dr. Nevin Al-Kabbaj, Minister of Social Solidarity, given that these organizations are primarily based on donations.

The decision to increase the minimum wage in the private sector aims to establish the principles of justice and balance in labor relations and to enhance cooperation and social dialogue in order to preserve workers’ legitimate rights and provide a “dignified life” for them, on the one hand, and to stabilize establishments, increase their production, and create a decent work environment in accordance with To international and local standards, on the other hand.

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