Our banking source revealed that reports about the Central Bank studying a tax rate increase are false, clarifying that such a decision falls under the jurisdiction of the House of Representatives, not the Central Bank.
The source further explained that the exchange rate is determined by the government, not the Central Bank, as the Libyan dinar’s value against the dollar is a direct result of the economic policies implemented by successive governments. If spending increases while revenues decline, the dinar weakens, and vice versa.
