Lebanon’s Finance Committee Demanded Realistic Numbers From Government For Customs Dollar Rate

Al Khabar

The Finance and Budget Committee, headed by MP Ibrahim Kanaan, held a meeting Thursday to discuss the 2022 state budget law.

Kanaan demanded realistic numbers from the government for the customs dollar rate that will determine the LBP to the USD exchange rate to be used to calculate customs on imports.

He said that the committee has given the government the last delay until next week to provide realistic numbers for the state budget.

Prime Minister Najib Mikati had asked Minister of Finance Youssef Khalil to increase the customs exchange rate from 1,500 LBP to 20,000 LBP. Basic goods and food products would be exempted.

Last week, President Michel Aoun refused to sign a decree that would increase the customs fees to 26,000, saying that the customs dollar must be increased gradually.

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