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Sisi proceeds with “Decent Life”, launches new social protection package at about EGP 60 bn
President Abdel Fattah El Sisi is proceeding with the “Decent Life” initiative to improve lives of millions of Egyptians in needy areas and launched a social protection package – which the Finance Ministry said it will cost about EGP 60 billion annually.
On Saturday, President Sisi visited Sids Al-Omaraa village in the Upper Egypt governorate of Beni Suef to inspect and inaugurate a number of projects carried out within the framework of the first phase of the “Decent Life” presidential initiative in the governorate.
“The national project for developing the Egyptian countryside, “Decent Life”, is the best indication that the neediest people are the primary beneficiaries of the returns of development and economic reforms,” President Sisi said during his visit to Beni Suef.
Feeling the heavy burdens on Egyptian people, the president launched a new social protection package and directed the government and state institutions to implement relevant decisions.
The president decided doubling the exceptional cost of living allowance to EGP 600 for all civil servants of the state’s administrative and economic bodies, business sector companies and the public sector.
The president also decided raising the minimum wage of the sixth class employees from EGP 3,500 to EGP 4,000 as well as the tax exemption threshold by 25 percent from EGP 36,000 to EGP 45,000, for all employees of the state’s administrative and economic bodies, business sector companies, and the public sector.
The president also decided increasing the financial categories granted to the beneficiaries of “Takaful and Karama Initiative” – at a total of 5 million families – by 15% for pensioners.
President Sisi also directed doubling the exceptional grant to pensioners and beneficiaries – standing at a total of 11 million citizens – to EGP 600.
The president also directed increasing the technology allowance for journalists registered in the syndicate, in accordance with the relevant allocations in the general budget.
Moreover, the president directed the Agricultural Bank of Egypt to launch an initiative to assuage the burdens on small peasants and farmers, and money-strapped persons who owe the bank before January 1, 2022.
The president also decided exempting those who cannot pay interests, and fines for delaying the payment of installments due to the General Authority for Reconstruction Projects and Agricultural Development, to the end of 2024.
Finance Minister Mohamed Maait said that this social protection package will cost about EGP 60 billion annually.
The president concluded his speech in Beni Suef saying “I assure you all that I am absolutely certain that our great nation is capable of shaping the present, creating the future, cultivating hope, and establishing peace and stability.”