24 billion LYD are being circulated outside the banking sector
The Head of the media bureau in the Central Bank of Libya, Issam Al-Oul revealed that the liquidity being circulated outside the banking sector is more than LYD24 billion, saying if only 10% of it was brought back to the CBL, the liquidity issue will immediately come to an end.
Press Solidarity reported Al-Oul as saying that the political division, closure of oil ports and fields, and the collapse of the revenue all led to this historical deficit in the public budget, let alone the clashes and wars going on in different districts in the country.
He also said that the deteriorated security situation in most of the Libyan cities and the division in the administrative roles caused a number of problems in most of the sectors as well as a big wave of displacement from war zones, which put pressure on the flow of the daily lives of the Libyans.
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.
- 331 migrants intercepted and returned to Libya, says IOM - January 31, 2023
- Supreme Court: Derregia must return to his former LIA position - January 31, 2023
- Libya’s Dar al-Ifta calls for boycott of Dutch, Swedish products - January 29, 2023