Lebanese President Joseph Aoun. (Credit: NNA.)
President Joseph Aoun on Monday, signed the decree regarding the increase of the minimum wage in Lebanon’s private sector.
On June 27, the government approved a 50 percent increase in the minimum wage, raising it to 28 million Lebanese pounds (312 dollars, a 56 percent increase) starting in July.
Lebanon has been mired in a severe economic and financial crisis since 2019, with its national currency collapsing, leading to an erosion of salaries and purchasing power, while inflation has soared.
Before the crisis, the minimum wage stood at 675,000 LL (Lebanese lira) — about 450 dollars at the official rate of 1,507.5 LL to the dollar.
President Joseph Aoun on Monday, signed the decree regarding the increase of the minimum wage in Lebanon’s private sector.
On June 27, the government approved a 50 percent increase in the minimum wage, raising it to 28 million Lebanese pounds (312 dollars, a 56 percent increase) starting in July.
Lebanon has been mired in a severe economic and financial crisis since 2019, with its national currency collapsing, leading to an erosion of salaries and purchasing power, while inflation has soared.
Before the crisis, the minimum wage stood at 675,000 LL (Lebanese lira) — about 450 dollars at the official rate of 1,507.5 LL to the dollar.
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