The Chairman of the High Council of State, Muhammad Takala, discussed with the governor of the Central Bank of Libya, Saddek Elkaber, the rise in the exchange rate in the parallel market as well as general budget for the year 2024 during a meeting on Monday.
According to a statement by the High Council of State, the two also discussed ending the state’s fuel subsidy program and its potential impact on the Libyan economy.
It is noteworthy the Government of National Unity, led by Abdul Hamid Dbeibeh, suffers from problems of monetization of the general state budget, in a context of sharp rise in the price of the dollar compared to the Libyan dinar, which has reached 7 Libyan dinars for one US dollar on the black market, a price that the Libyan dinar has not reached since 2020.