People shop at a supermarket in Beirut. (The Daily Star/Mohammad Azakir)
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Enacting a wage hike for public sector employees would spur inflation if paid in full rather than in installments, economists told The Daily Star Monday.Wazneh said the level of inflation could be minimized if the salary scale was paid in installments over four years.Economists insist paying the wage hike in installments is necessary because it could help curb inflation.Stagflation occurs when the economy isn't growing but prices are.However, Louis Hobeika, an Economics and Finance professor at Notre Dame University, argued that the approval of the wage hike will not spur inflation provided that Lebanese industries that are operating below capacity increase production to meet the forecast increase in demand.
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