| 23 May 2024, Thursday |

What is the minimum wage required to survive in Lebanon?

Income and salary increases are at the center of the government’s ministerial statement, all in the interest of saving funds.

But hold on a second: what rectification is the government referring to?

The employee used to make 1.5 million Lebanese pounds, or $1,000 dollars, as per the 1,500 Lebanese pounds exchange rate; now, his pay is 90 dollars, as per 16,000 Lebanese pounds in conformity with the current dollar exchange rate.

According to a study, a minimum income of 675,000 pounds is only enough to buy three cans of gasoline.

In terms of statistics, every two weeks, a car needs 500,000 Lebanese pounds to be filled with gas, equating to one million Lebanese pounds every month.

Another million, the cost of a 5-amp membership with one of the generator owners.

The monthly minimum spend is 4,500,000 Lebanese pounds, or 150,000 Lebanese pounds each day.

The monthly cost, excluding the mobile phone charges, state electricity bill, cleaning tools, school tuition, clothes, car maintenance, and taxes, is 6,500,000 Lebanese pounds.

This indicates that each household requires approximately 11 to 15 million pounds each month to survive.

According to these estimates, the minimum wage should be multiplied by ten, and hence should be within the boundaries of ten million pounds.

Is the government at this point in the process of reconciling these accounts for salaries ?

Faced with this fact, the Labor Minister is ready to commence the Index Committee’s work soon, at a time when economic authorities are rejecting these hikes and threatening to record losses. All of this comes amid concerns that any rise will cause inflation, necessitating the printing of more currencies, as well as future ramifications on compensation and service termination.

Finally, the war is scheduled to begin in a short time and the outcomes are fixed to fail, but get ready for a systemic bribery at the legislative elections.

  • Sawt Beirut International