Hakim Says Salary Scale Law Caused Inflation

  • Economics
Hakim Says Salary Scale Law Caused Inflation

Former Economy Minister Alain Hakim said that the wage hike granted for public employees has caused an inflation in Lebanon, reiterating that the salary scale law was approved recklessly and without an in-depth study of its impact.

Hakim told the MTV website that taxes have significantly reduced the purchasing power of the Lebanese and, therefore, affected consumption.

“Despite the paradigms indicating an economic problem, it seems there is a foreign political umbrella that is still shielding it,” he stressed.

Hakim assured that the Lebanese Lira will not falter despite inflation, low consumption and the deteriorating economic conditions in the country, adding that Lebanon's monetary system is still stable thanks to the trust in the Central Bank and the Association of Banks.

Source: Kataeb.org