Minister of Finance Mohamed Maait announced these procedures shortly following the Central Bank of Egypt’s (CBE) decision to raise the key interest rates by 1 percent.

The procedures include an allocation of EGP 2.7 billion to include 450,000 new families in the Takafol and Karama social protection programme, in addition to allocating EGP 190.5 billion to disburse the annual increase in pensions with a minimum of EGP 120 per pensioner as of 1 April. Read More