Congrats! You got a Raise!
Lebanese Cabinet signed off on a long-awaited wage increase decree Wednesday, hiking minimum wage by LL100,000 to LL600,000, salaries under LL1 million by 30 percent up to a LL200,000 increase, and salaries above LL1 million by a 20 percent increase up to LL275,000.
But the Lebanese government suggested that employees who had received “consensual” salary increases from employers since Jan. 1, 2010, may not be eligible for the raise.
The Cabinet also agreed to hike the yearly education allowance to a maximum of LL1.5 million from its current LL1 million level.
More about increase Salaries in Lebanon
I don’t think this would have a positive impact on the whole macroeconomics, since this raise will drag price increase specially on the level of schools tuition fees and all other necessary consumptions.
I would prefer to have a global new economic strategy that would be applied 1 Jan 2012 which will resolve inflation and fight against corruption thus we won’t need in salary raise!