Cabinet, meeting on June 27, at the Grand Serail. (Credit: Facebook account of the Cabinet)
BEIRUT — Over a year after doubling Lebanon’s minimum wage to 18 million Lebanese Liras ($200 at the 89,500 to the dollar rate), the Cabinet approved on Friday a new raise to LL28 million ($312, or an increase of 56 percent), effective starting next month, Labor Minister Mohammad Haidar told L’Orient Today. “There was general consensus among all participants in the session regarding the wage increase,” the minister added.Mired in an economic crisis since 2019, Lebanon’s local currency had collapsed, subsequently eroding wages and purchasing power country-wide, while inflation skyrocketed. Before the crisis, the minimum wage was set at LL675,000 — roughly $450 at the then-official exchange rate of LL1,507.5 per dollar. Catch up on the context: Lebanon’s minimum wage to be potentially raised to LL28 million in first phase The Ministry...
BEIRUT — Over a year after doubling Lebanon’s minimum wage to 18 million Lebanese Liras ($200 at the 89,500 to the dollar rate), the Cabinet approved on Friday a new raise to LL28 million ($312, or an increase of 56 percent), effective starting next month, Labor Minister Mohammad Haidar told L’Orient Today. “There was general consensus among all participants in the session regarding the wage increase,” the minister added.Mired in an economic crisis since 2019, Lebanon’s local currency had collapsed, subsequently eroding wages and purchasing power country-wide, while inflation skyrocketed. Before the crisis, the minimum wage was set at LL675,000 — roughly $450 at the then-official exchange rate of LL1,507.5 per dollar. Catch up on the context: Lebanon’s minimum wage to be potentially raised to LL28 million in first...
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