Egypt raises military pensions amid austerity measures

  • 6/25/2018
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Egypt’s President Abdel-Fattah El-Sisi has raised pensions for military personnel and salaries for civil servants by 15 percent amid a wave of price hikes linked to austerity measures The raises, published late Saturday in the official gazette, will take effect on July 1. CAIRO: Egypt’s President Abdel-Fattah El-Sisi has raised pensions for military personnel and salaries for civil servants by 15 percent amid a wave of price hikes linked to austerity measures. The raises, published late Saturday in the official gazette, will take effect on July 1. El-Sisi, a retired general, has raised military pensions several times in recent years. In recent days the government has raised the price of fuel, drinking water and electricity as part of a reform program tied to a three-year, $12 billion bailout loan from the International Monetary Fund, which Egypt secured in 2016. The tough measures have hit poor and middle-class Egyptians especially hard. El-Sisi has urged Egyptians to be patient as the reforms take effect.

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