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FINANCIAL NEWS
Oman raises minimum wages by 43%
17 Feb 2011
(MENAFN) Sayyid Fahd bin Mahmoud Al-Said, the Omani deputy prime minister, said that the government increases minimum wages for national working in the private sector by 43 percent, in response to a hike in consumer prices, reported Arab News.
Al-Said said that minimum salaries for national in the private sector would be increased to USD520 per month.
Inflation in the Sultanate increased to 4.2 percent in December 2010 compared to the same month a year before. As for prices, an increase of 0.7 percent was registered while food costs hiked.
It is worth noting that many countries in the Arab region are taking measures in favor of their population after the turmoil in Tunisia and Egypt.
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