Libya’s Minister of Economy and Trade, Mohamed Al-Hwaij, addressed the country’s economic situation during a press conference, assuring citizens that Libya holds a strategic reserve of essential goods sufficient for at least three months. The reserves are distributed across the eastern, western, and southern regions of the country, providing stability amidst growing concerns over rising prices.
The minister also emphasised that Libya has become a food-exporting nation, further reducing fears of price hikes. He urged banks and traders to activate their financial credits, announcing that credits will be opened within the week based on available data.
Al-Huweij called on regulatory bodies to monitor prices closely and prevent dollar speculation, stressing the importance of maintaining price stability. He also reminded traders to adhere to previous price levels due to the availability of credits.
According to the minister, the average Libyan’s monthly sugar ration is 100 kilograms, significantly higher than the global average of 26 kilograms.
