Aoun rejects decree to raise customs dollar
President Michel Aoun has refused to sign a decree that would increase the customs fees, media reports said Wednesday.
The so-called customs dollar will determine the LBP to USD exchange rate that will be used to calculate customs on imports.
The current rate is 1,500 Lebanese Lira to 1 dollar. A decree signed by the Prime Minister-designate and the Minister of Finance would increase the exchange rate from LBP 1,500 to more than 26,000, if signed by Aoun.
Aoun refused to sign the decree, saying that the customs dollar must be increased gradually and not in an abrupt way and that it will impact Lebanese families who wouldn't be able to purchase many items included in the decree, MTV said.
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