Asmar Says Minimum Wage Might Reach LBP 7 Million
The new minimum wage is expected to reach seven million Lebanese Pounds, according to head of the General Confederation of Lebanese Workers Beshara al-Asmar.
Asmar told al-Jadeed TV that the minimum wage is being discussed on an exchange rate of LBP 19,000 to 1 USD.
He said that any solution without a fixed exchange rate "will not lead to any effective result."
The Lebanese pound was trading Monday at about 21,000 to the dollar on the black market and had previously reached 34,000 while the official rate remains as it was before the crisis at 1,507.
The minimum monthly wage in Lebanon remains 675,000 pounds, placing Lebanese employees amongst the lowest minimum wage earners worldwide.
Source: Naharnet
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