‎The Tripoli based Libyan government announced today that Minister of Economy and Trade, Mohamed Al-Hwej, and the Acting Minister of Planning, Mohammed Al-Zeidani, held a meeting to discuss the draft import indicative budget for 2026, in the presence of the undersecretaries of the ‎‎ministries and directors concerned with trade and planning files.‎‎The meeting dealt with the mechanisms of regulating imports according to the priorities of the national economy in accordance with the Commercial Law, and aims to achieve price stability and control the demand for foreign currency, while supporting local production and national industries.‎‎The Minister of Planning referred to the results of a comprehensive national survey carried out by the Statistics and Census Department, which clarifies the conditions of households and the consumption patterns of basic goods and services, and is considered a reference for formulating public policies and supporting financial and economic planning.‎‎The Undersecretary of the Ministry of Economy, Suhail Abu Shiha, stressed the importance of cooperation with the Ministry of Planning to ensure the transparency and efficiency of the import department, and to rely on official data as a basis for formulating economic policies.‎‎The meeting concluded by confirming the completion of the project within the specified timetable, in coordination with the concerned authorities and the Central Bank of Libya, to enhance economic and food security.‎BackgroundIt will be recalled that the meeting comes on the back of several recent meetings by the Economy Ministry, the Prime Minister and the Central Bank of Libya. These come with the background of global prices of a barrel of oil (Brent Crude) falling to US$ 55, negatively affecting the Libyan state’s main revenue, the Libyan dinar on the black-market at one stage last Wednesday falling to LD 8.40 per US$, putting further pressure on rising commodity prices, and the continuing cash crisis at Libyan banks. Minister of Economy and Trade chairs technical meeting to prepare Libya’s trade policy for 2026PM Aldabaiba meets CBL Governor Issa to follow up on financial situation and efforts to ensure provision of cash and improve level of banking servicesCBL issues new licenses to another 91 FX Bureaux – but no announcement of when they may start trading as the LD plunges to 8.17 per dollarCBL Governor Issa vows to end Libya’s liquidity crisis by 1 OctoberCBL to bring FX rate of dinar to less than LD 7 per US$: CBL Governor IssaThere is no political will to implement subsidy reform: Former CBL Board Member and Deputy Finance Minister GhaitLack of control of state spending and the de facto existence of two governments in Libya negatively affects the CBL’s effectiveness: CBL Board MemberThe 6th Banking Sector Development Forum will be held in Tunis from 7 to 8 DecemberCBL Governor Issa announces three strategic initiatives to build a stronger banking sector at 6th Banking Sector Development Forum in Tunis 7 to 9 DecemberWorld Bank to participate in 4th Annual Libya Banking Development Forum4th Banking Sector Development Forum to be held in Tripoli in October 2022 (libyaherald.com)Annual Libyan Banking Sector Development Forum to be held in Tunis (libyaherald.com)Libya’s Banking Sector Development Forum welcomes CBL audit, insists on new meritocratic board of directors (libyaherald.com)SME finance, a new airline, a public transport service and a union of private banks announced at second banking forum (libyaherald.com)Second Libyan banking forum to be held in Benghazi (libyaherald.com)CBL instructs banks, fuel distribution companies and the bakeries’ union to increase the use of e-payments

Source: Libya Today December 19, 2025 17:12 UTC