During the launch of the dialogue session on the global economic crisis and its repercussions on the Libyan economy, economic advisor, Wahid Al-Jebu, spoke exclusively to our source, saying: “Because of the Ukrainian-Russian war, there are repercussions, but they will not affect us significantly because we are only seven million people. Grain and wheat can be provided from other markets, and I think that the Ministry of Economy and Trade is seeking to do so.”
He added: “As we know that Russia and Ukraine are among the largest exporters of grain and wheat, but I think it will be affected more by countries with more populations, such as Egypt, Morocco and Algeria. Libya has a positive side to this crisis, due to the high oil prices. The Libyan side has benefited, because its exports are more than one million barrels, and through this crisis, I have received more than 100 dollars, and this is in the interest of the Libyan economy for this year. There will be no deficit in the next budget.”
He continued by saying: “We know that during the past years there was a deficit in the general budget, payments and imports, for all the coming years, as with the rise in oil, the Libyan treasury will achieve a surplus. This, if the so-called closing of oil fields is removed, and we hope that all fields and the oil sector in general remain away from political conflicts and thus achieving the goals, because the National Oil Corporation is a technical institution and the Libyan oil companies affiliated with it work in the field of oil production and export and maintenance of equipment, wells and oil fields and have nothing to do with political quarrels.”
