An official at the Central Bank of Libya revealed today, Tuesday, that the Governor, Seddiq Al-Kabeer is addressing the Speaker of the House of Representatives, Aguila Saleh, regarding a proposal to quickly approve a unified budget, streamline public spending, and address parallel unidentified spending.

The official explained that in Al-Kabeer’s proposal to the deputies, there is a suggestion to impose tax fees on the official exchange rate, amounting to 27% for all purposes except for sectors funded from the general treasury. The additional exchange rate is proposed to be between 5.95 dinars and 6.15 dinars per dollar, with the tax rate being adjusted according to revenue conditions and expenditure developments. This rate is not expected to achieve complete stability in the parallel market as long as there is unanticipated and unidentified demand in the market.