Long promised economic reforms agreed

By Sami Zaptia.

Libya's long-awaited economic reforms were agreed and announced yesterday (Photo: PC).

Libya’s long-awaited economic reforms were agreed and announced yesterday (Photo: PC).

Dusseldorf, 13 September 2018:

Libya’s long promised economic reforms were agreed yesterday.

In a statement released yesterday, the Faiez Serraj- led Presidency Council and Government of National Accord said that “in an important step towards alleviating the suffering of citizens and reviving the economy, the economic reform program and its executive steps were adopted today, during a meeting held by the President of the Presidential Council of the Government of National Accord Fayez Sarraj and the President of the Supreme Council of State Khalid Mishri, and the Vice-President of the Presidential Council,  Ahmed Maitig.

The reform programme, which has already been agreed upon by the Presidential Council and the Tripoli Central Bank of Libya, will deal with the dinar exchange rate by imposing fees on sales of foreign currency for commercial and personal purposes, dealing with fuel subsidies and other measures aimed at correcting distortions in the Libyan economy, the statement said.

During the meeting, the necessary mechanisms were adopted, and the procedures for dealing with the implications of implementing this programme were also agreed.

 

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