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Al-Sisi raises military pensions by 10%

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New presidential decree amends law governing military retirement

A handout picture made available on June 8, 2014 by the Egyptian presidency shows President elect Abdel Fattah al-Sisi (L) reviewing the honour guard during the handing over of power ceremony in Cairo. Sisi was sworn in as Egypt's president, formalising his de facto rule since he deposed the elected Islamist last year and crushed his supporters.   (AFP PHOTO / HO / EGYPTIAN PRESIDENCY)

A handout picture made available on June 8, 2014 by the Egyptian presidency shows President elect Abdel Fattah al-Sisi (L) reviewing the honour guard during the handing over of power ceremony in Cairo. Sisi was sworn in as Egypt’s president, formalising his de facto rule since he deposed the elected Islamist last year and crushed his supporters.
(AFP PHOTO / HO / EGYPTIAN PRESIDENCY)

President Abdel Fattah Al-Sisi issued a decree Thursday amending articles of the law governing the retirement of military men, raising the military pension by 10%.

Starting from the 1July, military pensions increased by 10% without a minimum or maximum pension rate, reported state-run Al-Ahram. According to the newly issued decree, the pension subject to increase is the sum of both the original pension allocated to military men as well as the bonus pensions.

In 2012, ousted Islamist President Mohamed Morsi raised military pensions by 15%. The raise closely-followed another presidential decision increasing bonuses within the public sector also by 15%.

Since being sworn as president, Al-Sisi’s administration has taken a string of decisions often classified as austerity measures.

In a bold step often feared by past ruling regimes, Al-Sisi’s government increased prices for petroleum products on Saturday after reducing energy subsidies.

The newly-elected president also issued a law imposing income taxes on both resident and non-resident Egyptians on their commercial, industrial and professional activities abroad. The move comes to encourage them to make Egypt “the centre of their activities”.


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