Matouk Bassiouny – LEGAL UPDATE – April 2024 - Implementation of the Merger Control Regime in Egypt

EGYPT RAISED THE MINIMUM MONTHLY WAGE FOR EMPLOYEES IN THE PRIVATE SECTOR

We would like to announce that today, 8 April 2024, the Egyptian Gazette published the National Wage Council Decree number 27 for the year 2024 increasing the minimum monthly wage of private sector employees to EGP 6,000 (six thousand Egyptian Pounds) effective as of 1 st of May 2024.

Establishments encountering economic challenges which will or may hinder compliance with the minimum wage regulations have the option to apply for an exemption from this obligation by submitting a request in accordance with the prescribed guidelines outlined on the official websites of both the Ministry of Planning and Economic Development and the Ministry of Labor before 15th of May 2024. It is imperative to note that micro-enterprises under which the number of employees hired is less than 10 shall be exempt from this decision.

For any questions or inquiries, please feel free to contact: Tamer Fawki