Sunday, October 5, 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 Ranked Among World’s Slowest Countries for Internet Speed

Libya Tightens Health Rules For Incoming Foreign Workers

Inter Milan to Face Atlético Madrid in Libya’s Benghazi

Haftar Praises Tribal Role in National Reconciliation

Libya Policy Brings Turkey & Italy Closer to Washington

Libya’s Finance Ministry to Mobilise Funds for UNDP Projects

EDITOR PICKS

Hannibal Gaddafi Opposes Any Political Interference in His Case

Libya Policy Brings Turkey & Italy Closer to Washington

Training Program for Libyan Architects Launched in Italy

Libya’s Brega Increases Daily Fuel Supplies to Southern Region

Libya Reports No Power Shortage After Completing 148 Energy Projects in Eastern Libya

Libya Ranked Among World’s Slowest Countries for Internet Speed

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

© 2024 LR

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

© 2024 LR