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Libya’s decision to impose fees on the sale of foreign currency is right, World Bank says

The Address | Benghazi – Libya

WASHINGTON D.C. – The World Bank said in a report on Libya titled “the 2019 Economic Outlook for Libya,” that the decision to charge 183 percent on foreign currency sales helped weaken currency black market, smuggling, and contributed to reducing inflation rates and price rise.

The World Bank report said that the revenues of fees imposed on the sale of foreign currency have achieved a surplus of the general budget by nearly 3.9 percent of GDP, which is the first time for Libya to achieve a budget surplus after five years of deficit in the general budget.

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