business

Economist: Allowance and wage raise within the umbrella of social protection


Prof. Dr. Osama Said Abdel Sadiq, founder of the Small and Medium Enterprises Institute at Beni Suef University, the former dean of the Faculty of Commerce at Beni Suef University and an economic expert, said in his comment on the government’s decision to raise the minimum wage and to pay an exceptional bonus to state workers, that the government has taken this The decision was urgent today, and it took upon itself this matter, in the course of maintaining the umbrella of social protection. Perhaps this decision was one of the most prominent decisions that resulted from the Economic Conference – Egypt 2022, which ended yesterday.

In exclusive statements, Abdel-Sadeq explained that this decision, if indicated, indicates the government’s clear seriousness in implementing the directives of President Abdel Fattah El-Sisi, and moving forward towards implementing the recommendations of the Economic Conference, pointing out that the new social protection package is linked to giving a lump sum on a continuous basis to the employees of the agency. The administrative authority of the state, whether the government, ministries, directorates, public business sector companies, etc., to face price increases and the effects of inflation.

Abdel-Sadek stressed that the government’s first decision taken 24 hours before the end of the Economic Conference – Egypt 2022 was in the interest of society, and to reduce burdens on citizens, especially citizens of low income, and they are the first category that will face any price hikes.

Abdel-Sadek hoped the government would continue to review this package so that the wage situation could keep pace with developments in the economic aspects, noting that this bonus would cost the state during a fiscal year approximately 67 billion pounds, noting that this amount is neither a lot nor a little, but By adding it to the amount of basic social protection imposed by the state, it will constitute a significant relative weight, and the social protection system that was in force before will continue until June 30, i.e. for a period of 8 months, in anticipation of the outcome of global events.

He stated that the decision to review the minimum tax exemption came after the decision to raise the minimum wage, and there is a proposal to raise the tax exemption limit from 24 thousand pounds to 30 thousand pounds, so that those whose salary has been raised feel that their salary has not been raised so that part of it goes to taxes, wishing The government continues to take such decisions that protect society and citizens from such inflationary waves coming from abroad.

Related Articles

Back to top button