SAWT BEIRUT INTERNATIONAL

| 8 December 2022, Thursday |

Could Lebanese people reclaim their purchasing power?

With the collapse in the value of the Lebanese pound and the continuous increase of the dollar, gasoline, and commodities, Lebanon’s economic crisis has reached its third year, and the issue of fixing salaries and wages remains a worry for the Lebanese.

This is a serious issue that requires immediate attention, and while deciding to raise the minimum wage, one should note that wages must follow the logic of the necessities for a decent life.

Last May, ahead of parliamentary elections, Minister of Labor Mustafa Bayram announced in a statement the issuance of a decree that increased the minimum wage for workers in the private sector by one million and 325 thousand Lebanese pounds, provided that it is declared to the Social Security, which generates one thousand and one hundred billion pounds annually.

What has changed in this regard five months later? Will salary increases have long-term consequences for compensation, whilst social aid is more transitory and practical?

 

    Source:
  • Sawt Beirut International