Wednesday, June 25, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Economy

Libyan Economic Minister: Our Economy Has Lost $1 Trillion

September 6, 2021
Share on FacebookShare on Twitter

The Minister of Economy and Trade of the Libyan Government of National Unity (GNU), Mohamed Al-Hawij, said that the national economy of Libya is suffering from great damage and losses.

In press statements, Al-Hwaij added that the losses were estimated, according to the reports of the committees of the United Nations (UN), at $1 trillion distributed among several items. He noted that the losses of suspending the oil production amounted to $155 billion. It also includes the losses of social costs, infrastructure and reconstruction, which amounted to $576 billion.

The Minister of Economy pointed out that the Libyan economy witnessed the cost of equipment and other items worth $69 billion. He pointed to a decrease in the size of the gross domestic product (GDP) from $90 billion to $40 billion.

The Libyan Minister of Economy added that one of the losses of the Libyan economy includes the decrease in the volume of exports with the increase in the volume of imports, and the halting of production in most productive projects.

He confirmed that the national economy witnessed a decline in the Libyan currency against foreign currencies, a decrease in the level of per capita income and a low standard of living as a result of high inflation and an increase in prices, with the high rate of unemployment in Libya.

Tags: Economic MinisterlibyaLibyan GovernmentMohamed al Hwaij
Next Post

UNSMIL Welcomes New Round of Prisoner Exchange in Libya

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Libya’s Benghazi Hosts Major Italy-Libya Business Event

Italian PM Urges EU to Prioritise Libya’s Stability

Libya Tops Agenda in Egypt-Turkey Talks

Libya to Benefit from Global Oil Price Surge

Greece to Deploy Navy Near Libya to Monitor Migrant Departures

Libya’s Benghazi Hosts International Exhibition on Telecommunications & Digital Economy

EDITOR PICKS

Saddam Haftar Meets Egyptian Army Chief to Boost Joint Security Plans

Greece Reaffirms Willingness to Negotiate Sea Borders with Libya

Italy Resumes Direct Flights to Benghazi

Global Powers Support UNSMIL Roadmap to Resolve Libyan Crisis

US Reaffirms Support for Berlin Process & Libyan Political Roadmap

UN Envoy Urges Support for New Political Roadmap in Libya

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR