Cairo: The Egyptian President Abdel Fattah El-Sisi issued a decree, approving a 14% raise in pensions effective as of 1 July, the Middle East News Agency (MENA) reported late on Tuesday.

The country’s public budget for fiscal year 2020/2021 allocated EGP 170 billion for the National Organization for Social Insurance (NOSI) to pay the second annual instalment of the state treasury’s obligations.

Source: Mubasher

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