[Al Ahram] Recently-inaugurated President Mohamed Morsi on Monday issued a decision to increase military pension rates by 15 per cent -- rather than 10 per cent, as was called for by Egypt's Cabinet on Sunday -- according to Morsi spokesman Yasser Ali.
Where are they going to get the funding for this? Egypt is already living on "loans" from the Saudis rather than the more usual taxes and private sector economy.
On Sunday, Morsi also raised bonuses on public-sector salaries by 15 per cent and monthly social-insurance pension rates from LE200 to LE300.
Ali said that Morsi, following discussions with interim Prime Minister Kamal El-Ganzouri, had decided to raise military pensions by 15 per cent as well, so that military pensioners might enjoy equal payouts with state employees.
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