CAIRO: In its annual statistical bulletin, the Central Agency for Public Mobilization and Statistics (CAPMAS), announced Wednesday that average weekly salaries in Egypt increased by 18.7 percent in 2013.
The average salary in 2013 was 761 EGP ($106.43), compared to 641 EGP ($89.65) in 2012. CAPMAS utilized data from worker salaries in more than 10 different sectors, according to its press statement.
In 2013, the salaries for public business sector workers increased by 14 percent to reach 964 EGP, compared 845 EGP the previous year, it stated.
The average weekly salaries of private sector workers edged higher, by 11.1 percent, to reach 439 EGP in 2013, compared to 395 EGP in 2012.
CAPMAS also noted that the number of employees in the governmental sector increased by 2 percent in the last fiscal year 2012/2013 to total 5.5 million, compared to 5.4 million the previous year.
Of the total salaries, the brokerage and insurance sector registered the highest level of payment, with a 2,287 EGP weekly salary. In contrast, the education sector had the lowest level of payment, 237 EGP weekly, CAPMAS said.
Of the total Egyptian labor force, 71 percent (27 million Egyptians) are working in the private sector. CAPMAS attributed the tangible increase in salaries to an applied increase by the Egyptian government over the past few months.
The former Cabinet applied in December of 2013 a minimum wage rate that increased basic salaries of workers by 400 percent to total 1,200 EGP.
Following a ministerial decree, the Ministry of Finance provided about 18 billion EGP to apply the minimum wage rate.
Meanwhile, the maximum wage rate will be increased to 35 times the minimum rate, but will not exceed 42,000 EGP, Youm7 reported.
In the same realm, the financial allocations for wages will rise by 13 percent to 209 billion EGP in the next fiscal year budget, compared to 184 billion EGP currently, said Minister of Finance Hany Kadry in press statements May 26.
Increasing the financial allocations for wages is a vital step toward achieving social equity along with applying minimum wage rates, Kadry said.