Honorarium is an ex gratia payment without legal obligation for volunteer services. Common in schools, sports clubs, and for guest speakers. Used for funeral services and wedding officiants. May be called altarages when paid to churches
UK is sixth-largest economy globally, with nominal GDP of $3.588 trillion (2024). Service sector dominates, contributing 82% of GDP. London is second-largest financial centre globally. Technology sector valued at $1 trillion, third behind US and China
Egypt's economy was heavily dependent on cotton cultivation until 1930s. Industrialization began after 1930 with tariff reforms and government support. Oil boom in 1975-1980 led to significant economic growth. Economic reforms since 1991 improved market-oriented economy
Inflation measures general price increases in a country. Small inflation signals economic growth and adequate income. Excessive inflation reduces currency value and purchasing power
Hyperinflation is extreme price increases exceeding 50% monthly. Inflation is measured by CPI, which tracks prices of 94,000 commodities. Federal Reserve aims for healthy inflation rate of around 2%
President Biden announced 4.5% pay raise for 2025 fiscal year. March 2024 budget plan included 4.5% raise for servicemembers. October 2023 ECI release confirmed 4.5% pay raise for 2025