Egypt's leader raises minimum wage by 67 percent.
FILE - In this April 3, 2017 file photo, President Donald Trump shakes hands with Egyptian President Abdel Fattah el-Sisi in the Oval Office of the White House in Washington. Trump will meet with El-Sissi next month at the White House. Egypt's President Abdel Fattah el-Sissi on Saturday announced that he has raised the minimum wage to 2,000The move came ahead of a possible national referendum on constitutional amendments that would potentially allow him to remain in power until 2034.
El-Sissi said in televised comments the raise will be applied to all Egyptian workers. The move was part of a package of measures, including a raise in pensions and bonuses, intended to ease the burdens of Egyptians hurt by painful austerity measures in recent years. Egypt's Finance Ministry said the increase would kick in in July.
The reforms included floating the currency, substantial cuts in state subsidies on basic goods, and introducing a wide range of new Removing state subsidies is something that el-Sissi's predecessors could not do because of fears of unrest. The late President Anwar Sadat attempted in 1977 to remove subsidies on bread, a main staple for Egyptians, sparking deadly street riots. He backed down. In comparison, el-Sissi's reforms fueled popular discontent but never boiled over onto the streets.
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