During a news conference held today, Wednesday, the Prime Minister, Dr. Mustafa Madbouly, announced a number of new decisions to combat rising prices.
In order to guarantee that the Ministry of Finance will submit the final accounts to the House of Representatives on its legal dates and in accordance with the rules organised by Article 67 of Law No. 6 of 2022 regarding the enactment of the Unified Finance Law, the Council of Ministers approved 57 draught laws by linking the final accounts of the state budget, economic bodies, and the National Authority for Military Production for the fiscal year 2021–2022.
Today’s cabinet decisions:
1. Increasing the minimum wage to 3,000 pounds from 2700 pounds.
2- Power will be available till June 30, 2023.
3. Approving a special incentive for all employees in the nation, valued at 300 pounds, to help them cope with the high cost of living.
4 – Preparing a social package in light of the phenomenon of increasing inflation rates globally during the next few period.
5 – The Council of Ministers considered and approved this package, and will begin implementing it at a cost of 67 billion pounds, starting next month.
6 – The Council of Ministers also authorised 57 lawful projects during its meeting, linking the state budget, economic entities, and the National Authority for Military Production’s final accounts for the fiscal year 2021–2022.
7- This package involves increasing the tax exemption threshold from 24 000 to 30 000 pounds.
8 – Offering financial assistance to businesses that have suffered because of the global economic crisis until June 30 in order to stop job cuts.
9 – Up to June 30th, giving families with ration cards financial assistance.
The social package will now be available until June 30, 2023.
The Prime Minister’s major choices today following the conclusion of the economic conference
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