Lebanon raises customs Dollar by threefold as government struggles with financial woes

Lebanon Economy
01-03-2023 | 08:12
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Lebanon raises customs Dollar by threefold as government struggles with financial woes
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Lebanon raises customs Dollar by threefold as government struggles with financial woes

The Lebanese government has decided to triple the customs dollar from 15,000 to 45,000 LBP, causing a significant increase in the prices of imported goods subject to customs fees. For example, a car that used to have a customs fee of $1,000 now has a fee of around $3,000.

The decision was made due to the lack of funds available to the government, with the state's account, known as Account 36, becoming severely depleted. As a result, the government needed to find ways to generate more revenue, and increasing the customs dollar was seen as an essential measure to achieve this goal.

Moreover, the government recently approved a series of incentives for the public sector to end their strikes, and securing funding for these incentives has become a top priority. It is worth noting that public sector salaries have not been paid yet for March.

Customs officials have stated that the customs dollar rate will fluctuate based on the parallel market exchange rate. However, without a clear reform plan to secure dollar revenues for the government, decisions such as raising customs fees will continue to be futile, especially with the increasing value of the dollar and the depreciation of the Lebanese pound, which will result in further erosion of public sector salaries.

Lebanon News

Lebanon Economy

News Bulletin Reports

Lebanon

Economy

Finance

Raises

Customs

Dollar

Threefold

Inflation

Recession

Crisis

Government

Politics

LBCI Next
Lebanon updates fuel prices
Recommended For You
d-none hideMe
LBCI
Lebanon Economy
09:45

BDL governor says giving priority to small depositors is a 'rational and necessary' option

LBCI
Lebanon Economy
2026-04-30

Fuel prices updated in Lebanon

LBCI
Lebanon Economy
2026-04-29

EU allocates €45 million to Lebanon’s Social Affairs Ministry to support vulnerable families

LBCI
Lebanon Economy
2026-04-29

Finance Minister to LBCI: Monetary stability remains top priority, public sector rights protected pending legal approval

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
World News
2026-01-13

Iran's leadership is in its 'final days and weeks': Germany's Merz

LBCI
Lebanon News
09:10

Tension in Beirut suburbs as army intervenes during funeral procession: Video

LBCI
Middle East News
2026-03-17

Netanyahu says Larijani killing gives Iranians chance to overthrow rulers

LBCI
World News
2026-05-02

Germany urges stronger European defense after US announces troop drawdown

Videos
d-none hideMe
LBCI
World News
2026-03-25

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

LBCI
Lebanon News
2026-03-08

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

LBCI
Lebanon News
2026-03-06

Israeli airstrike targets Beirut’s southern suburbs: Video

LBCI
Lebanon News
2026-03-05

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

LBCI
Lebanon News
2026-03-05

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

LBCI
Lebanon News
2026-03-02

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

LBCI
Lebanon News
2026-02-16

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

LBCI
Lebanon News
2026-02-14

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

LBCI
Lebanon News
2026-02-01

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
Lebanon News
16:12

LBCI removes digital content featuring caricature of Hezbollah leader after judicial order

LBCI
News Bulletin Reports
13:04

Lebanon prepares new displacement center in Beirut as tensions rise and return remains uncertain

LBCI
Variety and Tech
08:44

Egyptian singer Hany Shaker dies after long illness

LBCI
Lebanon News
12:23

Lebanese Army Chief meets head of ceasefire monitoring committee, stresses need to support the army

LBCI
News Bulletin Reports
12:58

Ceasefire fragile as Lebanon weighs diplomacy, possible US-mediated talks with Israel

LBCI
Lebanon News
09:23

LBCI sources: Masked gunmen open fire during funeral in Beirut's suburbs as army pursues suspects

LBCI
Lebanon News
09:10

Tension in Beirut suburbs as army intervenes during funeral procession: Video

LBCI
Lebanon Economy
09:45

BDL governor says giving priority to small depositors is a 'rational and necessary' option

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More