An economic analyst said, in a statement to our source, that the decision of the House of Representatives represents a step in the right direction and is one that has been awaited for years. Imposing the tax will close corruption files related to letters of credit and currency smuggling, bring an end to the black market, and reduce the depletion of dollars.
He explained that the tax targets luxury goods that were being smuggled abroad due to their low cost. With the new measures, there will no longer be unfair competition with foreign and neighboring markets, and imports will be aligned with the actual needs of the Libyan market.
He added that this will lead to a decline in demand and a drop in the dollar’s price in the parallel market. While there may be an initial wave of speculation pushing prices higher, the market will not hold, and the dollar will eventually collapse.
