The Impact of Indirect Taxes on The General Budget Balance in Libya – An Econometric Study for The Period (1970-2023)
DOI:
https://doi.org/10.54172/ag9g0m32Keywords:
General Budget, Indirect Taxes, Period Of DeficitAbstract
The study aims to test the impact of indirect taxes on the balance of the public budget in Libya during the period (1970-2023), The data issued by the Central Bank of Libya during that period revealed the existence of a structural deficit; as well as the expansion of public spending in all sections, whether it is the ongoing spending on salaries, subsidies and social benefits under the pressure of rising inflation rates, or the expansion of spending on infrastructure that has a long-term return that is relatively low compared to short-term spending, or it may be due to the imbalance in the tax organization, especially indirect taxes, such as taxes on imports represented by customs duties, and some other types of taxes, including foreign exchange sales taxes. Therefore, the relationship between Libya's general budget balance and indirect taxes, inflation rate, and real exchange rate was tested using the (ARDL) model, The results of the (Boundstest) indicated that there is no co-integration between the variables of the model, that is, there is no equilibrium relationship between the variables in the long run, and the estimation results indicated that there is no causal relationship between indirect taxes and the balance of the public budget in the short run.
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