Finance Minister Issues Instructions for Disbursing Social Security Funds

The Minister of Finance in the caretaker government, Youssef Khalil, after meeting with the President of the General Labor Union, Bishara Asmar, and the Director General of Social Security, Mohamed Karaki, has instructed the initiation of disbursing 1 trillion Lebanese pounds from the allocated social security entitlements from the 2024 budget, which totals 3.1 trillion Lebanese pounds. The Ministry of Finance is to pay the remaining amount in monthly installments. Asmar and Karaki presented the conditions of social security to Minister Khalil, with Karaki revealing that the 1 trillion, in addition to the contributions that will be collected due to the increase in the minimum wage and the cost of living, and raising the maximum taxable income subject to contributions in the health and maternity branches to 90 million Lebanese pounds, will enable social security to significantly increase its healthcare and medication benefits. He pointed out that beneficiaries will notice an improvement in these benefits in the upcoming weeks.