Presidential council approves public sector salary increase
Just days after new exchange rate went into effect, 20% salary increase for public sector receives approval
The head of the Government of National Accord (GNA) Fayez al-Serraj issued a statement approving earlier decision to increase the salaries of public sector employees in the country by 20%.
This comes just days after the Central Bank of Libya adopted the new exchange rate of 4.48LYDs to 1 use dollar, effectively devaluing local currency.
The decision to increase the salary employees came in December of 2020 in the Eighth Extraordinary Meeting of the GNA cabinet, closely following the announcement of the new exchange rate by the Central Bank’s board of directors.
In a press release following the decision, the UN-backed Government stated the salary increase comes as a result of the economic and practical ramifications of the new unified exchange rate.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to firstname.lastname@example.org. Please include ‘Op-Ed’ in the subject line.
- Libya loses rights to vote in the UN General Assembly - January 20, 2021
- Biden: “This is America’s day. This is democracy’s day.” - January 20, 2021
- Military Commanders amongst the victims of an explosion in Tripoli - January 20, 2021