Minister of Social Solidarity Ghada Wali said the Cabinet had agreed to increase pensions by 15 percent, at a minimum of LE130 each starting from July 1. At a press conference in the Cabinet headquarters, she added that the increase is funded by the state treasury to benefit 9.5 million people. The Cabinet also approved a LE100 increase for the beneficiaries of the Takaful and Karama program, which will cost the state LE2 billion. This decision came to shield lower-income citizens from the effects of the economic reform program. The economic reform program is part of the US$12 billion loan deal with the International Monetary Fund.

Source: Egypt Independent May 30, 2017 09:33 UTC