The decree by Adly Mansour comes less than two weeks before presidential elections in which former military chief Abdel-Fattah el-Sissi, who ousted the elected president and installed Mansour in his place last July, is widely expected to win.
The Sunday decree amends a 1987 law that put the president's monthly salary at 12,000 pounds and gave him a similar amount as an annual, not a monthly, allowance.
The raise, while massive, could hardly match the dramatic rise in the cost of living over the past 25 years.