In light of the decision issued by the Supreme Council of Wages
in October 2023, the Ministry of Planning and Economic Development
issued Decree No. 90 of 2023 (the
“Decree“) on December 11, 2023, which
introduces an increase in the minimum salary of private sector
employees.
According to the Decree, as of January 1, 2024, the minimum
salary for private sector employees shall be EGP 3500 (three
thousand five hundred Egyptian Pounds) instead of EGP 3000 (three
thousand Egyptian Pounds), as originally determined in Decree No.
46 of 2023.
The Decree further stipulates that the annual increment for
private sector employees for the fiscal year 2024 of each
respective company or establishment shall be no less than 3% of
their social insurance salary, in accordance with the provisions of
the Social Insurance and Pensions Law No. 148 of 2019. Furthermore,
the Decree determines a minimum increment amount of EGP 200 (two
hundred Egyptian Pounds).
