Egypt announces plan to increase minimum wage by 87.5%

Egyptian Prime Minister Mostafa Madbouly has announced a strategic plan to increase the national minimum wage from 8,000 EGP ($145) to 15,000 EGP ($271) by the 2029/2030 fiscal year. This initiative, which follows presidential mandates from the “Egypt Forum 2026,” aims to improve living standards and social services.

The plan includes specific targets for various sectors: teachers' minimum entry wages are set to reach 15,000 EGP within two years, and medical sector bonuses are expected to increase by at least 50% by the end of the 2029/2030 fiscal year.

On the industrial and energy front, Egypt aims to raise natural gas production to 6 billion cubic feet per day and crude oil production to 700,000 barrels per day by 2030. Additionally, the government targets a renewable energy capacity of 30 GW by 2028. The housing sector plans to provide one million new housing units over four years, involving an estimated investment of 1 trillion EGP.

Despite an economic growth rate of 5.1% for the 2025/2026 fiscal year, reports indicate ongoing cost-of-living pressures for many households due to fluctuating prices of essential goods.