Egyptian president raises monthly minimum wage to around $172

Egyptian President Abdel Fattah al-Sisi announced the country will raise monthly wages for residents to around $172 as the country continues to grapple with financial issues, The Associated Press reported. 

In a statement on Tuesday, al-Sisi said the minimum monthly wage will be 2,700 Egyptian pounds ($171.5), which is a 12.5 percent increase from the current 2,400 Egyptian pounds ($152.5). 

The government is also raising the salaries of civil servants by 13 percent increase and announced educators’ salaries will be increased as well, according to the AP. 

Al-Sisi’s statement did not note when the latest increase will be applied, but the latest move is expected to begin at the start of the fiscal year in July.

The initiative comes amid al-Sisi’s meeting with his prime minister, finance minister, and other financial officials on Tuesday to discuss the next budget plan. 

The AP reported this is the third time that al-Sisi has raised the minimum wage since taking office in 2014.

The Egyptian government has taken economic measures in an attempt to revive the economy following the 2011 citizen uprising and years of political turmoil and violence that followed, the outlet reported. 

The past measures included floating the currency, substantial cuts in state subsidies for basic goods, and introducing new taxes. 

The measures drew criticism from some who said it hit the poor and middle class the hardest and set off a significant hike in prices and services in the country, the AP noted.