New Increase in Minimum Wage in Egypt

The Egyptian government has decided to raise the minimum wage in the private sector to 3,500 Egyptian pounds (113 dollars) per month, starting from January 1, according to a decree published in the official gazette on Monday. The last time the government raised the minimum wage was on July 1 when it was set at 3,000 pounds. The main inflation rate in Egypt has sharply risen over the past two years, reaching a record level of 38 percent in September, before declining to 35.6 percent in November.