Giza commercial chief praising the decisions of social protection: the first results of the economic conference

Deputy Adel Nasser, Chairman of the Board of Directors of the Chamber of Commerce in Giza and Vice-President of the General Union, confirmed that the package of new social protection decisions, whose total cost is 67 billion pounds, is the first outcome of the economic conference and confirms that the citizen is the most important priority of the state.

The government said that these decisions are to help citizens to face the high rates of prices as a result of the global inflation situation, and that package included raising the tax exemption limit from 24,000 pounds to 30,000 pounds, extending social protection work until June 30, 2023, raising the minimum wage from 2,700 pounds to 3,000 pounds, and continuing not to increase electricity. Until June 30, 2023, and the adoption of an exceptional allowance to confront the cost of living in the amount of 300 for all state workers, including pensioners.

The Giza commercial chief indicated that the state decided to provide financial support to companies that stumbled due to the global crisis until June 30, in order to prevent layoffs and help companies in distress due to the current crisis by disbursing the dues of their employees from the emergency fund of the Ministry of Manpower, while canceling the decisions of documentary credits for import, which This will lead to the availability of goods in the markets and raw materials for factories and companies.

Representative Adel Nasser pointed out that these programs aimed at helping citizens go hand in hand with the state’s vision in developing and supporting the Egyptian economy through parallel lines, including working to reduce imports to reduce demand for hard currency and diversifying the currency basket to reduce the peg of the Egyptian pound to the dollar, in addition to paying attention to industry. Which will represent the locomotive of the economy in the future and open up areas for youth employment, noting that the economic conference presented a vision for the state through the participation of many experts and specialists in all fields.

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