Increasing strikes and demonstrations in Egypt protesting against low wages and high inflation

According to the report of the International Economic Group of Fars News Agency, quoted by Arabic 21Strikes and protests by workers of Egyptian companies and factories, both in the private sector and in the public sector, have increased with the continuous decrease in the value of the pound in this country to unprecedented levels and successive jumps in the inflation rate.

After the decision of the Central Bank of Egypt to reduce the rate of the pound against the dollar from the level of 15.7 pounds to 31 pounds, due to the lack of foreign currency and the increase in Egypt’s foreign obligations to creditors, the new minimum wage in the private sector is 2,700 pounds, equivalent to 87 dollars. is, while before it was equal to 153 dollars, right.

Last January, the annual core inflation rate according to the Central Bank of Egypt increased to 31.2%, which is much lower than the figure recorded by the John Hopkins index, because the real inflation in Egypt is estimated at 101%, and among the 21 countries in the world in terms of The high rate of real inflation is ranked sixth in the world.

Since the beginning of this year, workers of several companies in Egypt have organized demonstrations and strikes to demand better wages and answers to their demands, which include periodic wage increases, payment of incentives and allowances, and consideration of high prices in the country.

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