The Head of the Presidential Council has issued a decision to form an advisory economic committee, chaired by an economic expert, with the membership of seven other economic and financial specialists.
The committee is tasked with submitting a technical report to the President of the Presidential Council to assess the current economic situation at both the macroeconomic and institutional levels. The report will identify the key economic risks threatening national security and provide executive economic and institutional recommendations in both the short and medium term.
The committee includes several economic and financial experts.
The Head of the Presidential Council stated that the decision was prompted by what he described as the “continued deterioration of macroeconomic indicators in the Libyan economy,” warning that the situation now threatens the country’s stability, national security, and the rights of its citizens.
The decision obliges all public institutions and official bodies to provide the necessary facilities and information to assist the committee in carrying out its work. A fixed financial reward will be granted to the committee’s chair and members, with its value to be determined at a later stage.
This decision comes amid a record surge in foreign currency rates, with the dollar reaching 10 Libyan dinars on the parallel market, despite a package of reforms announced by the Central Bank of Libya at the beginning of February, alongside new regulatory measures aimed at controlling the market and curbing speculation.
