22 Hrs
Source:
عين ليبيا
Libyan economy: how did it reach this point
The article addresses the economic situation in Libya, where economic experts, including Idris Al-Sharif and Mukhtar Al-Jadid, discuss the causes and challenges facing the Libyan economy. Al-Sharif pointed out that the economic failure stems from an unofficial budget that is drained by salaries and subsidies, emphasizing that administrative exchange rates create rent-seeking behavior and speculation. He stated that stability begins with addressing these issues. At the same time, Al-Jadid presented figures indicating high consumption of goods over the past six months, noting that signs of collapse include fuel, the dollar, and salaries, with expectations of larger problems lasting until 2027. The article discusses the impact of public spending, exchange rate policies, and fuel and material subsidies on the path of the Libyan economy, highlighting ongoing challenges and expectations of increased pressure.
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