Egypt's Ministry of Planning and Economic Development has raised the minimum wage for workers in the private sector by 300 pounds ($9.72) to three thousand pounds per month as of July.
The decision comes after Egyptian President Abdel Fattah al-Sisi ruled out another devaluation soon after three sharp devaluations that led to the devaluation of the pound by about 50 percent against the dollar since the Russian invasion of Ukraine in February 2022.
Annual inflation in Egyptian cities rose to 32.7 percent in May, slightly below an all-time high, and annual core inflation rose to 40.3 percent in the same month.
Source (Al-Arabiya.net Website, Edited)
