5 Hrs
Source:
عين ليبيا
Libya's Crisis Has Roots
Businessman Husni Bey called for addressing the structural imbalances in Libya’s economy, warning against reducing the crisis to fighting corruption, smuggling, and speculation without tackling its economic causes. He explained that fuel subsidies, government spending beyond sustainable revenues, financing the deficit by printing money, and restrictions on access to dollars alongside administratively set exchange rates all contribute to smuggling, inflation, and the emergence of a parallel market. He also noted that oil and gas account for about 93% of public revenues. He stressed the need to reform fuel pricing and the exchange-rate system, rein in spending and deficit financing, and at the same time protect citizens’ purchasing power. He urged critics of his position to put forward economic alternatives backed by figures.
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