Lebanese central bank workers lift strike until Friday

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07-05-2019 | 04:41
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Lebanese central bank workers lift strike until Friday
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Lebanese central bank workers lift strike until Friday

Lebanese central bank workers decided to suspend their strike until Friday when they will meet to decide whether to halt or resume the protest, their syndicate chief said.

 

The strike started over government budget proposals that would cut their benefits, part of a wave of industrial action and protests ignited by fears of plans for big spending cuts by the heavily indebted state.

 

The strike led to a suspension of trade on the Beirut Stock Exchange for a second day on Tuesday because the transaction clearance and settlement process could not be completed on time.

 

Abbas Awada, head of the central bank workers' syndicate, said the strike could be cancelled before Friday if articles in the draft budget that concern them were annulled or an exemption given to the central bank.

 

The public sector wage bill is the state's biggest expense, followed by the cost of servicing the public debt. Army retirees have been among the opponents of the draft budget, which they fear may target some of their benefits.

 

 

 

REUTERS

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