Charles Arbid, the president of the Lebanese Economic Social and Environmental Council, conducted a meeting at the council’s headquarters with the Minister of Labor Mustafa Bayram in attendance.
After the meeting, Bayram and Arbid announced that they agreed to a series of adjustments regarding the salaries of private-sector employees.
They agreed to increase the minimum wage from LBP 2 million to LBP 2.6 million and the daily transportation compensation from LBP 65,000 to LBP 95,000. Moreover, they announced that everyone with a salary lower than LBP 5 million will benefit from the salary increase.
In the end, they decided to schedule more meetings in the future to deal with the constantly changing economic situation.
Private sector employees will wonder if this increase is enough for them to cope with the crisis, especially considering that, with the recent increase in the USD exchange rate, LBP 2.6 million is worth less than $100.