Between irrational decisions sometimes and unthoughtful expenditures at other times, the Libyan dinar is subjected to painful blows that may plunge it to the bottom of the inflation and the loss of its global value against other currencies.
The Marriage Fund grant approved by the Dbaiba government at a value of 40,000 dinars for newly married couples, and the decision to support Libyan families with 50,000 dinars for each family, makes us think: Will these decisions affect the national economy?
Economist Waheed Al-Jabo says in a statement to Arraed that they have repeatedly demanded – being economic experts – that the standardization of salaries be fair for all segments of the people.
Al-Jabo believes that the decisions to support marriage, support the disabled and the elderly, and increase the salaries of the education sector, health and police sectors are wrong. Because the increase in the money supply leads to higher inflation rates and an increase in prices.
Al-Jabo believes that the solution lies in reconsidering the foreign exchange rate and gradually decreasing its value every 3 months, until the dollar exchange value reaches 1.5 dinars, not by increasing grants and salaries.
According to political analyst Mohamed Ghamim,
The “futility of government decisions” and the legislation issued now is nothing but a competition between the House of Representatives and the government at the expense of exhausting the public treasury with ill-considered decisions, and they do not have deep dimensions in addressing the problems of Libyan society, as much as their fruits and results will appear on the public treasury, the internal economy and the public debt of the government and the savings of the Libyan people, and this issue will have a negative impact.
Ghamim added, in a statement exclusively to Arraed, that there are those who believe that these decisions issued by the government come within the framework of the electoral campaign, regardless of whether they are so or whether they are within the framework of reforms.
Ghamim hopes that the Central Bank of Libya will have a clear opinion that does not come out in the form of complete bias to the Prime Minister, especially that he came out in previous times and in the times of previous governments, raising the red card and threatening of collapse, and now we see him delving into the issue of opening all revenues for the success of the government, which we wish success and stability and to be up to the responsibility, but I see that all these decisions of increasing salaries and marriage grants will come to exhaustion of the treasury and the financial position of a country, especially since we – according to specialists – are going through a wave of depression and inflation where prices have risen and demand has decreased as a result, there are other problems, not just a salary problem, but a set of problems.
Ghamim hoped that the legislative and executive authorities would provide Libya with solutions that support the market value of the Libyan dinar and do not push towards the collapse of this value by absurd decisions at the expense of electoral propaganda or reactions, as they did in Parliament.
Between this and that, the simple citizen remains hoping to improve his life and meet the requirements of life away from being traded by one party or another.
