Egypt's parliament manpower committee approves 15% increase in pensions

The Egyptian parliament's manpower committee has approved a 15 percent raise in pensions, with a baseline increase of EGP 130 for those on the smallest of pensions, Al-Ahram Arabic website reported.
The changes, announced on Monday and effective from 1 July, will see the minimum monthly pension increased from EGP 500 to EGP 630 per month.

The higher categories of pension, meanwhile, could increase by up to EGP 551 per month.

The Egyptian cabinet agreed last month to allocate EGP 43 billion for the social security budget for the finanical year 2017-2018.

This allocation included an EGP 20 billion increase for pensions, to ease the burden of inflation on basic services and goods resulting from the government's economic reform program.