Egypt raises military pensions amid austerity measures

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 will take effect on July 1. 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. Sissi has urged Egyptians to be patient as the reforms take effect.

— AP