Finance Minister Hazem al-Beblawy said Tuesday that the government would announce a maximum wage in a month to be applied to all state employees.
Beblawy confirmed that the government is eager to reform the wage system without waiting for the results of in-depth studies on the subject, as they could take a year to complete.
He noted that the minimum and maximum wages would be reviewed periodically so as to ensure they matched changing economic conditions, adding that they would be consistent with international standards.
Beblawy explained that the government aims to achieve justice and a balance in incomes so that they reflect the real productivity of the Egyptian worker. He reassured that no maximum wage would be imposed on the private sector, as such a restriction could prevent businesses from utilizing their best human resources to increase competitiveness, which is considered the driving force behind economic growth.
Translated from the Arabic Edition