Economy

President of the Presidential Council Fayez Al-Sarraj, on Tuesday, said that the economic reforms have led to the reduction of the fiscal deficit, and the deterioration of the Libyan dinar has been gradually recessed and the prices of basic commodities have been receded. In a speech to the municipalities of …

Head of the High Council of State (HCS) Khaled Al-Meshri, on Wednesday, agreed with the Center for International Private Enterprises (CIPE) in Washington to hold a workshop in Libya, in which the Center will participate in, that includes the public and private sectors. On its official page, the High Council …

During a meeting with representatives of the American Chamber of Commerce in Washington DC, the head of the High Council of State (HCS) Khalid Al-Meshri said that the presence of a strong economic partner such as the United States would stop the negative interventions in the Libyan file. Al-Meshri, on …

The German ambassador to Libya, Olivier Owcza, on Tuesday, confirmed his country’s support for the steps taken in monitoring the budget between the public and private sectors and the economic steps in Libya carried out by the government and implemented by the Ministry of Finance. During his meeting with the …

Minister of Economy and Industry Ali Al-Issawi, on Wednesday, reviewed with Deputy Chief of the UN Mission for Political Affairs Stephanie Williams the economic reform program. On its official page, the Ministry of Economy stated that the meeting entailed the impact of reform on the economic situation of the state …

The Supreme Council’s Economic Follow-up Committee, on Wednesday, discussed with the Director of the Office of the Governor of the Central Bank of Libya, Abdel Latif El-Tunisi, the results of the imposition of fees on the sale of foreign exchange compared to what was planned in the issuance of those …

Chairman of the National Oil Corporation (NOC), Mustafa Sanallah, on Saturday, expected the end of the development of the empty field by Al-Waha Oil Company, which will supply Al-Sireer station with electricity at the beginning of 2019. In a meeting held at the company’s headquarters in Benghazi with the presence …

Chairman of the National Oil Corporation (NOC), Mustafa Sanallah, said that the oil sector faces great challenges, and that the workers face difficult circumstances as a result of what is “woven from plots and violations” and closure of oilfields, which are all attempts to undermine the role of the corporation …

The National Oil Corporation (NOC), on Sunday, said that the continuation of the shut down of Al-Sharara field costs the economy $32.5 million a day. On its official site, the company stated on Saturday that the halt of the field will cause daily losses in production, estimatedly at 315 thousand barrels …

Brent crude climbed 4.5 percent on Monday to $ 62.35 a barrel after Qatar withdrew from the Organization of the Petroleum Exporting Countries (OPEC) as of Jan. 1, 2019. Oil prices also rose 5 percent after the United States and China agreed not to impose any new tariffs for 90 …