Central Bank governor Riad Salameh, right, attends the joint committees meeting at the Parliament in Beirut, Monday, April 7, 2014. (The Daily Star/Hasan Shaaban)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Private school teachers joined a major protest on March 21 to reiterate their demands for a salary raise. Hanna Gharib, head of Secondary Teachers Associations, confirmed that teaching staff would continue protesting until the new salary scale was approved, threatening to boycott official exams and start an open strike. Finance Minister Ali Hasan Khalil is planning to introduce new taxes in his 2014 draft budget in order to finance the proposed salary scale, which is expected to cost the government more than $1.6 billion each year. Echoing similar fears, the head of the Lebanese Insurance Association Asaad Mirza said that the salary scale of 1992 had a very bad impact on the exchange rate of the Lebanese pound to the U.S. dollar, at one point reaching LL3,000 .
World Bank total Lebanon pledges to hit $1.5B
High cost of new tech may drive bank consolidation
Lebanese business shrugs off Turkey coup
FOLLOW THIS ARTICLE