Expert criticizes Libyan budgets
The Libyan economy faces significant structural challenges due to the country's reliance solely on oil, coupled with a lack of economic diversification and widespread financial corruption. The value of the Libyan dinar has fallen to around 8.5 against the dollar, and prices have risen sharply, while salaries range between 500 and 2,000 dinars, making it difficult for citizens to cover their needs. Additionally, acts of looting public funds are increasing, and the weak productive sectors hinder economic development. Despite continuing massive expenditures on political institutions, there have been no real achievements. There are also warnings about the impact of rising fuel prices on the economy, amid the ongoing deterioration of the country's financial conditions.
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