Public Actions
Banque du Liban completely removes fuel subsidies
Date:
Monday, September 12, 2022
Banque du Liban lifted the last remaining portion of the gasoline subsidy on Monday after having gradually reduced it over the past month, Georges Brax, the spokesperson for the Gas Station Owners’ Union told L'Orient Today. Until Monday, payments for imports were made by paying 20 percent at BDL's subsidized Sayrafa rate (LL28,200 to the dollar on Monday) and the remainder at the parallel market rate (around LL35,200 to the dollar). As of today, those payments are 100 percent unsubsidized.
Acting Bodies:
Banque du Liban (BDL)
Type:
Resolutions
Categories:
Economic measures (State budget, rent law, wages...)
Impact:
National
Status:
Approved/ Ratified
Civil Society Response:
Not applicable