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FINANCIAL NEWS
Lebanese government agrees to lift minimum wages
13 Oct 2011
(MENAFN) Lebanon’s government lifted the minimum wage by 40 percent, in a bid to avoid the General Labor Confederation threat of a nationwide strike.
Ghassan Gosn, head of the confederation said they accepted the government’s decision, adding that the union sought a 60 percent increase.
The government also increased wages that are above the minimum. Last time the government hiked the minimum wage was in 2008 by 67 percent, the first hike since 1996.
Lebanon’s inflation rate declined to 5.5 percent in August from 5.8 percent the previous month, according to the Central Administration for Statistics.
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