21 Hrs
Source:
عين ليبيا
Rising costs in oil-rich nation
The Libyan market is experiencing a continuous rise in the prices of essential goods due to economic, administrative, and security crises. These include the devaluation of the dinar, increased import and transportation costs, weak oversight and monopolistic practices, as well as poor market regulation, overlapping responsibilities, and institutional divisions. The head of the Competition and Anti-Monopoly Board, Salama Al-Ghweil, explained that the problem is not only rising prices but also the government's limited ability to monitor and regulate competition, with opportunities for market exploitation in the absence of effective oversight. He warned of the ongoing economic deterioration and emphasized the need to restore government functions, secure strategic stockpiles, organize imports and production, prevent manipulation, unify the market, and achieve fair prices for citizens.
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