Benghazi – The Benghazi Community Partnership organized a dialogue session. It was held in cooperation with Benghazi Municipality. The session took place on Wednesday evening. The topic was “Exchange Rate Changes and Tax Imposition: Financial Balance vs. Impact on Community Security”. It discussed current economic transformations. It also covered their repercussions on living conditions and security.
The session focused on three main axes. First, it examined the feasibility of changing the exchange rate. It also looked at imposing taxes. Their ability to contribute to solving Libya’s financial crisis was discussed. Second, the impact of these measures on the general economic scene was reviewed. Their reflection on citizens’ ability to meet basic needs was also covered. Third, potential effects of these policies on the security landscape were debated. Safe transition paths available amid current changes were also a point of discussion.
Financial expert Amraja Ghaith participated in the session. Economic academic Atiyah Al-Fitouri also attended. Brigadier Naji Hammad was present. He is the Director of the Technical School in the Ministry of Interior’s General Training Department.
Riyad Boumatari is a peacebuilding consultant at Benghazi Community Partnership. He stated to the Libyan News Agency. The topic of exchange rate change and tax imposition is part of efforts. These efforts aim to analyze Libya’s general financial and economic situation. They cover the feasibility of these measures. They also study alternative solutions and available state mechanisms. Their effectiveness in maintaining stability is crucial. He emphasized the importance of understanding the economic changes’ security implications. Research into possible transition mechanisms for the upcoming phase is also vital.
Brigadier Naji Hammad confirmed his view. Theories of criminal sociology and criminology show a strong link. This link is between economic conditions and crime rates. He noted that deteriorating living conditions can contribute to some types of crime. This necessitates proactive steps. These include engaging with society. It also involves studying influencing factors. This seminar was held in this context.
The session featured extensive discussion. It covered the exchange rate change. It also explored its relationship with the balance of payments deficit. This occurs despite a lack of external banking debts. However, internal debts exist. Other issues were the general budget deficit. The balance of payments deficit was also discussed. Uncontrolled public spending was addressed. Its repercussions on the exchange rate were also covered.
Attendees also addressed demands for salary increases. This is due to declining purchasing power. The accessibility of goods to citizens was discussed. The tax base was also a topic of discussion.
Several members of Benghazi Municipal Council attended the session. Representatives from the Ministry of Interior were present. Civil society organizations also participated. Faculty members from Benghazi University were also there.