In a statement to “Tabadul”, the economist and founder of the Libyan Exchange Stock Market, Suliman Alshahomi, stressed that Libya’s economic institutions should be unified as a way to avoid public-budget deficits.

Alshahomy added that Libya’s economic institutions should be restructured and more equitable, accusing them of non-transparency, pointing out that there is a “prize conflict” in Libya.

He also clarified that the deficit issue will not be solved except by unifying the institutions, mainly the Central Bank of Libya. In addition to unifying the government and launching a transparent and clear economic program for specific targets.

The economic program should achieve the development and address the economic imbalance in many items, such as inequality in salaries. In addition to addressing subsidies’ file “as it leads to corruption and causes many problems,” he stated.

Commenting on the statement issued by the United Nations on granting exceptions for some people to get the dollar at an official price, Alshahomy considered that there is no transparency in Libya, reminding of the dangers of a dollar at more than one price, confirming that this phenomenon is dangerous and may affect the Libyan economy.

“The Central Bank is authorized to determine the exchange rate,” ha said, calling on the national economic institutions to play their role according to the law, especially with regard to the exchange rate.

As far as oil blockade is concerned, Alshahomy called for the necessity of solving problems at their roots, stressing that the Central Bank of Libya along with the government are devided.

“There is a terrible imbalance,” the economist concluded, “no losses can be talked about because the entire economy is losing and there is a crisis of confidence,” he added.