Cairo - Mubasher: The Egyptian cabinet has approved a proposal to raise social insurance pensions by 15%, with a minimum amount of EGP 130, effective 1 July 2017, according to the minister of social solidarity.
Ghada Wali added in a press conference on Monday that the increase will be borne by the general budget with a total cost of around EGP 20 billion, with 9.5 million citizens set to benefit from the increase which aims at countering the staggering inflation rates.
Social security programmes will see EGP 100 billion rise in next year’s budget, to finance supplying basic goods, social solidarity and takaful and dignity pensions for low-income citizens, public transportation, state-subsidized treatment, health insurance, and slum development.
