Today, Tuesday, Minister Mohammed Al-Huwaij held a meeting with the committee tasked with determining the gap between the supply and demand for foreign currency and strengthening the Libyan dinar against foreign currencies, a committee he chairs.
Al-Huwaij affirmed that accomplishing the assigned tasks requires the alignment of the state’s fiscal, monetary, and trade policies. This necessitates taking a package of monetary measures capable of determining the real growth rate of demand for foreign currency according to the international and domestic economic variables specific to the Libyan state. This includes supply operations through the banking system, the parallel market, and the implications on the purchasing power of the Libyan dinar.
He emphasized that this should not be isolated from comparing the balance of payments for the current year with the expected revenues from foreign currency for the next year. It is essential to address or reduce the deficit between them to propose solutions and recommendations for the economic, monetary, and financial requirements of the state.