The value of salaries in Lebanon is still decreasing. The press is addressing the poor conditions of workers in both the private and public sectors. The minimum wage is 675,000 liras, the equivalent of $42. Salaries in Lebanon have lost 95% of their value.
Salary increase demands are taking place. An increase in the minimum wage to 3 million pounds has been proposed. In this context, economy experts stated that this solution is not pragmatic. In light of the country’s inability to secure the increase in salaries, printing more pounds will further lead to inflation and a collapse in the exchange rate.
The private sector, however, will not be able to increase the workers’ salaries. On the contrary, it will either have to fire workers or pay half of the salary to its workers. A salary increase, therefore, economists argue, must be accompanied by an economic program and a future vision. A salary increase without actual revenues would result in a significant increase in commodity prices.
#Lebanon #Crisis #Salary_Increase
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