In a statement to Tabadul, the economist Omar Al-Zarmouh, considered that the decision of raising the fee on selling foreign currency is wrong and unjustified, adding that it is too early to adopt this step.
AL-Zarmouh clarified that this measure will lead to the rise of foreign exchange rates, as economy depends mainly on imports, indicating that merchants will pay a higher price when importing different goods, which leads to the increase of services’ prices in the country.
He also accused the state of intentionally raising prices, unlike other countries in the world, and in contrast with the rational policies that seek to pressure prices as to reduce them.
The expert clarified that it is too early to take this step because Libya still has reserves to use, adding that 163% – what the exchange rate officially costs- is a terrible ratio.
Al-Zarmouh suggested that the best solution is to seek for revenues from the state’s projects.