3 important economic decisions made Egyptians happy

The Egyptian economy witnessed a series of positive economic events, which confirmed the state's keenness to provide citizens with a decent life.

The most important of these decisions is the decision to raise the minimum wage for workers in the private sector, from 2,700 to 3,000 pounds, starting next July.

The most important new economic events:

Raising the minimum wage for workers in the private sector

The National Wages Council decided in its last meeting, which was chaired by Dr. Hala El-Said, Minister of Planning and Economic Development, to raise the minimum wage for workers in the private sector, from 2,700 to 3,000 pounds, starting next July.

The Minister of Planning confirmed that the council's decision to raise the minimum wage to 3,000 pounds is in line with the council's policy of achieving a balance between the interests of workers and business owners.

This decision is in line with the current economic changes and high inflation rates, explaining that any decision taken by the Council is discussed extensively with all parties, taking into account the interest of all.

Establishing the first free zone in the industrial developer system in Damietta

Damietta Governorate, the General Authority for Investment and Free Zones, and the Italian Finstra Alliance, signed a tripartite memorandum of understanding to establish a public free zone in the governorate, to be the first public free zone to build a private industrial developer system, and the second public free zone in Damietta Governorate, and the tenth at the level of the Republic.

Introducing a new twenty-pound plastic coin

The Central Bank announced the launch of a new twenty-pound currency made of polymer, which was produced using the latest banknote production lines in the New Administrative Capital, with confirmation that previous issues of the same denomination have not been canceled, and that it will continue to be dealt with alongside the new currency without any change. 

The new 20-pound coin is distinguished as the first monetary denomination to be introduced in the Egyptian market, using advanced technologies that allow the blind and visually impaired to distinguish it and learn its value by touching the prominent signs at the top left of the banknote.

The most prominent features of the 20 pounds, according to information issued by the Central Bank about it:

1- The previous issues of the 20-pound denomination are not cancelled.

2- Printed on plastic polymer material and difficult to forge.

3- The polymer is characterized by its high resistance to dirt and moisture.

4- Not affected by water and sweat at all.

5- Its life is longer than the paper currency.

6- It bears different trading conditions.

7- It can be recycled at the end of its useful life.

8- Designed with great precision.

9- It expresses the Egyptian will to transform into a new era for the state that represents the new republic while preserving the foundations of the ancient pharaonic civilization and the Islamic heritage of the state.

10- It contains a prominent printing of the Muhammad Ali Mosque on the obverse of the coin.

11- The reverse of the coin contains the statue of Queen Cleopatra and the Great Pyramid with the chariot and the ancient Egyptian warrior, which shows the strength and greatness of the ancient Egyptian state. The paper represents the harmony that combines the originality of the past and the sophistication of the present.

12- Measures 5.7 inches by 6.9 inches.

13- It is considered the first paper containing the latest technology to distinguish the value of the denomination for the blind and visually impaired by touching the top left of the coin.

14- It shall be implemented immediately upon its issuance, with an emphasis on the continuation of work with the old 20 pound notes currently circulating in the Egyptian market.