In 2008, wages were increased by 200,000 LBP increasing the minimum wage to 500,000 LBP. In comparison with July 2010 and 2011, inflation rose by 5.8%.
The Lebanese trade unions called for raising the minimum wage to 1, 250, 00 LBP, threatening to resort to a general strike or sit-in if their demands are not met.
The Head of the Commerce, Industry and Agriculture Chamber Mohammad Choukeir told LBC TV station that higher wages would lead to the bankruptcy of a number of companies and widespread unemployment.
LBC quoted Finance Minister Mohammad Safadi as saying that raising minimum wage to 1,250,000 LBP would be an unbearable burden for the Lebanese economy.
“Such a raise implies that the worker will have to double his productivity”, Safadi added.
For his part, former Finance Minister George Corm told LBC that workers have the right to ask for higher wages however it is not the right time to do so, given the slackening economic situation in Lebanon.