Egypt raises military pensions amid austerity measures
Egypt’s President Abdel-Fattah al-Sisi has raised pensions for military personnel and salaries for civil servants by 15% amid a wave of price hikes linked to austerity measures.
The raises, published late on Saturday in the official gazette, will take effect on July 1. Sisi, a retired general, has raised military pensions several times in recent years.
In recent days the government has raised the price of fuel, drinking water and electricity as part of a reform program tied to a three-year, $12 billion bailout loan from the International Monetary Fund, which Egypt secured in 2016.
Read More: News 24
