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

Lebanon Economy
01-03-2023 | 07:12
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
Finance minister signs decree granting August bonus to military personnel
Recommended For You
d-none hideMe
LBCI
News Bulletin Reports
2026-01-31

Lebanon’s salary dilemma: Public sector demands clash with an empty treasury

LBCI
News Bulletin Reports
2026-01-30

Government's salary calculation for Lebanon's public sector: A raise today or a crisis tomorrow?

LBCI
Lebanon Economy
2026-01-30

A slight rise in fuel prices recorded in Lebanon

LBCI
News Bulletin Reports
2026-01-29

Lebanon's 2026 budget: Survival spending without a recovery plan

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Lebanon News
2025-12-19

Turkey says crashed drone believed to be Russian-made: Ministry

LBCI
Variety and Tech
2025-12-08

Paramount counters Netflix with cash bid for Warner Bros. Discovery

LBCI
Middle East News
2026-01-06

Saudi-led Yemen initiative gains US backing amid regional consultations: LBCI sources

LBCI
News Bulletin Reports
2025-11-26

A fragile agreement: One year after the Lebanon-Israel ceasefire deal

Videos
d-none hideMe
LBCI
Lebanon News
2026-02-01

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

LBCI
Lebanon News
2026-01-29

Berri halts live broadcast amid parliament salary dispute

LBCI
Lebanon News
2026-01-10

Fairuz receives condolences for death of son Hali Rahbani—Video

LBCI
Lebanon News
2025-12-02

Pope Leo XIV urges leaders to hear their people’s cry for peace, singles out Lebanon (video)

LBCI
Lebanon News
2025-12-02

At Beirut waterfront, Pope Leo XIV rides through cheering crowds (video)

LBCI
Lebanon News
2025-12-02

At Beirut Port, Pope Leo XIV offers silent prayer for blast victims (video)

LBCI
Lebanon News
2025-12-02

Pope Leo XIV opens hospital visit with Arabic ’Sabah el-kheir’ — Video

LBCI
Lebanon News
2025-12-01

Pope Leo XIV tells Lebanese youth Lebanon’s future ‘is in your hands’; watch full speech here

LBCI
Lebanon News
2025-12-01

Pope Leo XIV moved by youth turnout in Bkerke: Video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
News Bulletin Reports
12:50

Tensions erupt briefly in Qasr amid Lebanese Army raid

LBCI
News Bulletin Reports
13:00

Israel braces for potential US strike on Iran amid diplomatic uncertainty—the details

LBCI
Lebanon News
12:12

Lebanese Army chief to meet senior US lawmakers during Washington visit: Sources to LBCI

LBCI
Lebanon News
05:54

UNIFIL says Israeli army activity disrupted peacekeeping operations along Blue Line

LBCI
Lebanon News
11:34

President Aoun arrives in Madrid for two-day visit: Lebanon aims to boost economic cooperation with Spain

LBCI
Middle East News
06:15

Iran president orders start of talks with US: Local media

LBCI
Lebanon News
06:08

Israeli drone targets vehicle in Qlaileh, south of Tyre

LBCI
Lebanon News
07:46

Israeli army claims it killed Hezbollah air defense unit member in South Lebanon

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