Chairman of the Union Party: Increased allocations "Social protection" Supports simple categories and enhances the purchasing value of entry
Counsel Reda Saqr, head of the Union Party, confirmed that increasing social protection allocations in the new fiscal year 2024/2025 comes as a translation of the directives of President Abdel Fattah El-Sisi, who places the Egyptian citizen at his top priority, which appears in the direct directives he issues to the government to expand… Social protection programs and the integration of the most needy categories of the Egyptian people under the umbrella of social security provided by the state, to confront economic changes.
Saqr added: The decision to increase social protection allocations in the budget for the new fiscal year is an added step to the series of decisions taken by the Egyptian state over the recent period to support simple citizens and low-income people, indicating that raising allocations by 20% all at once will ensure reducing the gap between individuals’ incomes and their living needs. And thus this is reflected in the purchasing power of income.
The head of the Union Party noted that the Egyptian state’s efforts towards enhancing social protection during the past years took many forms, through the launch of a package of Comprehensive social policies to support and protect the most needy groups, explaining that the difficult economic conditions we are going through imposed such measures.
Counsel Reda Saqr pointed out that an increase in social protection allocations had been crystallized and the minimum wage had been raised, which had reached 6,000 pounds, increasing salaries and pensions significantly, raising adequacy levels of stocks of strategic goods and enhancing the quantities offered in the markets.
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