World

Libya to suspend fuel subsidy from June

During his appearance at the World Government Summit, Libyan Prime Minister Abdul Hamid Dbeibeh made an important announcement concerning Libya’s economic policy. He expressed that Libya will proceed with the suspension of fuel subsidies between June and the end of the current year. Dbeibeh voiced confidence that this decision would be supported by the Libyan people.

The Prime Minister stressed a major issue impacting the country’s economy, revealing that about 60% of Libyan fuel ends up being smuggled into neighbouring and European countries. This not only highlights the challenge of fuel smuggling but also the potential financial losses incurred by the state.

Moreover, Dbeibeh pointed out that subsidies consume over 40% of the national budget, a notable proportion that underscores the financial strain subsidies place on Libya’s resources. In light of this, he stressed that the funds previously allocated for fuel subsidies would be redirected to Libyan citizens directly, implying a shift towards a more targeted form of financial support for the populace.

Libya, known for having one of the lowest fuel prices globally, sells diesel at 0.031 US Dollars per litre (equivalent to 960 Tunisian millimes), positioning it as the second country with the cheapest fuels in the world, following Iran. 

 
 
R

Leave a Comment

Recent Posts

UN demands Israel to ensure safety of Gaza aid workers

Senior United Nations (UN) officials called on Israel to take immediate measures to ensure the…

12 heures ago

Arrest of drug trafficker in Moknine with 8,270 tablets in his possession

The services of the Ministry of the Interior reported the detention of a drug trafficker…

12 heures ago

There is life after Ennahdha: Tunisian-Turkish partnership in textiles, other agreements in sight in industry

The wheel spun for Ennahdha, which represented Turkey's interests in Tunisia and not always to…

13 heures ago

Tunisia receives 100 ladybirds to fight cochineal insect.. Mehdi Issa explains effectiveness of this solution [Video]

In a statement to Tunisie Numerqie on Tuesday, Mahdi Issa, coordinator of the marine program of…

17 heures ago

WikiLeaks founder Julian Assange released from prison after US plea deal

WikiLeaks founder Julian Assange will plead guilty to a felony charge in a deal with…

18 heures ago

Tunisia-Moez Tariaa: “178 fires registered in agricultural crops from May 1 to June 23, 2024” [Video]

Speaking to TunisieNumérique, spokesman for Civil Protection, Brigadier General Moez Tariaa, stated that from May…

18 heures ago

This website uses cookies.