Libyan Plan to End Fuel Subsidies
Libyan Minister of Oil and Gas, Dr. Abdulbari Alarusi [Al Arusi] (pictured), has said that Libya plans to do away with all fuel subsidies within three years: “The authorities intend to remove subsidies...
View ArticleNew Smart Cards to Cut Fuel Subsidies
Reuters reports that Libya plans to introduce a smart card system to limit the costly subsidies its citizens enjoy when buying motor fuel — much of the fuel is smuggled into Tunisia for resale at...
View ArticleCentral Bank to Abolish Subsidies
The Central Bank of Libya (CBL) has agreed to remove direct subsidies on fuel, foodstuffs and medicines, according to a report from Libya Herald. The changes are to be phased in from early next year...
View ArticleCental Bank Allocates $3.4bn to GNA
By Adam Nathan. The Central Bank of Libya (CBL) has deposited LD 4.8 billion ($3.4 billion) to the Presidency Council / Government of National Accord (GNA) to cover the budget (‘Temporary Financial...
View ArticleGovt Spent $30bn on Fuel Subsidies
The Libyan Audit Bureau has stated that Libya has spent $30 billion in the last five years on fuel subsidies. The subsidies make Libyan fuel one of the cheapest in the world and helps fuel the illegal...
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