Egypt raises military pensions amid austerity measures
CAIRO (AP) — Egypt’s President Abdel-Fattah el-Sissi 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-Sissi, 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-Sissi has urged Egyptians to be patient as the reforms take effect.