Libya’s Central Bank raises the red flag over terrible economy
The Governor of the Central Bank of Libya (CBL) Al-Seddiq Al-Kabir, has revealed a group of reforms to save the “terrible economic” conditions in Libya.
In a presser on Tuesday, the CBL’s governor said that Libya lost about 160 billion dollars due to the closure of oil pipelines, adding that the budget deficit in Libya amounted to 200% of the country’s revenue.
Al-Kabir also said that the CBL experts have come to a group of reforms based on research and data compiling over the last five months, hinting at scrapping fuel subsidies and raising the rates of the official exchange of the Libyan dinar to the dollar from 1.40 to 3 or 5.75.
The CBL governor said that the Libyan financial and economic situation is
The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
Latest posts by Libyan Express (see all)
- Tripolitania Society says 6+6 committee’s outcomes are arbitrary - June 09, 2023
- Minister of Labour reaffirms government’s social justice efforts - June 09, 2023
- Meloni: Libya remains a strategic partner for Italy - June 08, 2023