6 Hrs
Source:
عين ليبيا
Source: عين ليبيا
6 Hrsعين ليبيا
Source: عين ليبيا
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Mohamed Hammouda, head of the Libyan Organization for Consumer Rights Protection, warned that the exchange-rate gap and fictitious letters of credit are worsening the dinar’s loss of purchasing power and fueling inflation, while the closure of oil valves between the Hamada oil field and the Zawiya refinery is threatening the energy sector. He said that raising wages in a one-product economy suffering from a weakening currency, without the production to fund those increases, could lead to hyperinflation and bankruptcy. Fuel shortages and disruptions to letters of credit are also driving up transport costs and the prices of goods. He said recovery requires protecting the energy sector from political interference and bringing the budget under a unified legal framework.
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