From January 1st 2022, companies will need to pay workers at least EGP 2,400 per month instead of EGP 2,000 per month.
The council said that the new decision could impact some 12.6 million workers.
The council, headed by Planning Minister Hala El Said, also decided to put in place minimum bonuses for private sector employees equal to 7% of the basic salary.
These bonuses will be paid out bi-annually, with the government requiring companies to pay 3% on July 1st and the remaining 4% in January.
Starting July 1st, the bonus should be at least EGP 60.
El Said affirmed that the NWC’s decisions regarding the periodic bonus and minimum wage takes into account several considerations amid current challenges, including the current global economic conditions caused by the COVID-19 pandemic.
“It also takes into account the need to reduce the burdens on economic establishments so they can continue their economic activities efficiently, as well as continue to meet their duties towards their employees,” El Said added.
In May, the government approved the minimum wage increase for civil servants to EGP 2,400 instead of EGP 2,000.
In March, Egypt’s National Wages Council started studying the potential of raising the wages of workers in the private sector.
The new raise ranged between EGP 240 and EGP 560 will come into force as of July 2021