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FINANCIAL NEWS
Mubarak grants 15% salary raise to government employees
08 Feb 2011
(MENAFN) Hosni Mubarak, the Egyptian president that currently faces protests demanding that he resigns from his position, revealed the approval of a fifteen percent salary increase for a total of six million government employees, reported The National.
The new raises were announced by Samir Radwan, the finance minister, who said that they would be effective from April and would require the allocation of a total of 6.5 billion Egyptian pounds in the country’s budget.
The new raise was approved in a meeting between the Egyptian President and the new cabinet.
It is worth noting that this raise comes in an attempt to ease protests that had been accelerating since late January against President Mubarak. The new government had been trying to negotiate the Islamic movement as well as other protestors in the country without success.
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