MP Halima Kaakour strongly cautioned against “the acceleration of the re-dollarization of the economy”, and considered that “the risk lies in the discretion of exchange rates, for which society pays the price.”

The Social Democratic Party deputy explained that the telecommunication field is following a certain dollar exchange rate, while the judges’ salaries are processed at the rate of LBP8,000/USD, while other employees are given their salaries at the rate of LBP1,500/USD…and medicine, food and education are priced at black market dollar rates.”

In this context, Kaakour stressed “the right of judges and all employees to have their salaries adjusted, after the fall of the lira to the dollar, but the salary adjustment for the public sector must be part of a comprehensive recovery plan that does justice to employees and protects them from the ongoing inflation.”

The MP criticized herein the “illegal circular” by the Central Bank Governor in amending the salaries of judges, “according to an acrobatic exchange process that serves to merely add zeros to salaries, which leads to more exchange rates, more collapse of the lira and an increase in inflation, and perpetuates the absence of justice among public sector employees, in violation of the law”.

Kaakour considered that “Riyad Salameh placed himself in place of the legislator with his issued circulars, in place of the government with regards to the budget and in place of the parliament by approving it…”

She, thus, reiterated that “what is required is a clear policy to reform the salaries of employees, all employees, within an integrated financial and economic plan.”

Source: National News Agency – Lebanon