Egypt raises military pensions amid austerity measures
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Read < 1minuteMOSCOW, RUSSIA – FEBRUARY 13: Egypt’s Minister of Defense, First Deputy Prime Minister and likely presidential candidate, Field Marshal Abdel Fattah el-Sisi meets with Russian President Vladimir Putin (not pictured) in Novo-Ogaryovo residence on February 13, 2014 near Moscow, Russia. Egypt’s Minister of Defense Abdel Fattah el-Sisi and Foreign Minister Nabil Fahmy are on a two-day official visit to meet with their Russian counterparts for bilateral discussions. (Photo by Sasha Mordovets/Getty Images)
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.
The tough measures have hit poor and middle-class Egyptians especially hard. Sisi has urged Egyptians to be patient as the reforms take effect.
