Sisi Directs Gov't to Increases Income Tax Exemption Limit to EGP 36,000 Annually

Egyptian President Abdel Fattah El-Sisi directed the government to increase the income tax exemption limit to EGP 36,000 annually instead of EGP 24,000.

This comes within the framework of the state's efforts to mitigate the repercussions of the global economic crisis on citizens.

Egypt’s annual core inflation rate rose to 40.3% in February 2023, compared to 31.2% in January 2023, the Central Bank of Egypt (CBE) revealed in a press release on March 9th.

The monthly core consumer price index (CPI) inflation recorded 8.1% in February 2023, compared to 1.2% in the same month of 2022 and 6.3% in January 2023, the CBE added.

According to the CBE, the annual headline urban CPI inflation recorded 31.9% in February, compared to 25.8% in January.

It is worth noting that the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt's annual headline inflation rate rose to 32.9% in February, compared to 10% in the same month of 2022.