1 Day
Source:
الشرق الأوسط
Dollar crisis strains Libyan bread supply
The increase in bread prices in Libya since midweek has sparked public dissatisfaction. Bakers raised the price of a loaf to half a dinar due to the rise in the price of a hundredweight of flour, which has exceeded 400 dinars. The market has been affected by the decline in the value of the dinar against the dollar, reaching more than ten dinars in the black market. Authorities have intervened in an attempt to ease the crisis by selling flour directly to bakeries and distributing subsidized flour, but these are only temporary solutions amid the absence of exchange rate stability and a strategic wheat stockpile. Observers link the rising cost of bread to the devaluation of the dinar, with political division and economic deterioration being cited as reasons for the worsening of the crisis. There are warnings that it could recur in the future if lasting solutions and effective financial governance are not implemented.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)