Egypt approves a 130bln EGP financial & social relief package

Egypt approves a 130bln EGP financial & social relief package

Minister of Finance, Mohamed Maait announced that an EGP 130 billion package of financial & social protection measures has been prepared to deal with the repercussions of global economic challenges and mitigate their effects on citizens.

An EGP 2.7 billion will be allocated to include 450,000 new families to Takaful & Karama’s beneficiaries. 190.5 billion pounds will be allocated to the National Social Insurance Authority, to increase retirement pensions by 13% starting April 2022.

The package will also allocate 36 billion for increasing the periodic allowance for civil service persons, to be 8% of the job wage, with a minimum of 100 pounds per month, beginning next month.

Also read: The Egyptian Pound records 17.50 against the USD

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