The African Development Bank announced that the Libyan economy is vulnerable to future shocks.
In yesterday’s report on economic prospects in Africa 2020, the bank stated that the growth of the Libyan economy during the years 2020 and 2021 will depend on boosting oil production.
It also indicated that real GDP growth slowed to an estimated 4% in 2019, due to lower oil prices.
Today, Ghassan Salame stated that an arms embargo was violated by both sides (The GNA along with the LNA).
Salame said that the two sides were aiming “to bridge the gaps in their views on how the lasting, sustainable ceasefire can be organised on the ground”.
However, fighting continued despite a call for a truce by Russia and Turkey on January 12, and an international summit in Berlin on January 19.
“Yesterday, we started to discuss with them a long list of points on our agenda, starting with an attempt to transform the truce into a more solid one, less often violated, and also to transform that truce into a real agreement on a lasting ceasefire,” Salame added.
The Director of Tripoli University Hospital Nabil Al Ajili claimed that rumors spreading on social platforms about confirmed coronavirus cases are false.
Al Ajili ensured that all hospitals are fully equipped and ready to receive and conduct all necessary checkups for any suspected cases.
Last week, Britain’s Petrofac and Zallaf Libya Oil and Gas Company discussed, at a meeting in London, the contracting strategy as well as the implementation of the early production equipment project in the Erawin oilfield.
The company claimed that it also discussed the proposed pipeline that will transport oil from the Erawin field to Al Sharara field and its schedule timeline.
Zallaf also revealed that it intends to start oil production by the end of this year.
Yesterday, the 5+5 Libyan Joint Military Commission met in Geneva under the auspices of the United Nations.
Five senior officers appointed by the Government of National Accord (GNA), and five senior officers appointed by the Libyan National Army (LNA) participated in the talks, which are moderated by Ghassan Salame, Special Representative of the United Nations Secretary-General and Head of the United Nations Support Mission in Libya.
The Ministry of Economy is working on a national investment plan to act as a strategic tool in order to mobilize the resources and improve the economy at the state level.
The investment map will also act as a government document that includes promising opportunities for productive investments in different sectors.
The Ministry also wishes to activate the agreement with the Arab Planning Institute regarding the preparation of an investment map based on scientific foundations, and based on field studies to identify the sectors and economic activities that are most beneficial to investors in Libya.
The Ministry of Finance announced an increase in the Customs Authority revenues by 86% during the past year 2019, compared to the base year 2012.
In a statement, the ministry stressed that tax revenues amounted to 1.58 billion dinars, praising the role of customs officials and their efforts to enhance the incomes.
A knowledgeable source from the Algerian Ministry of Health confirmed to “Tabadul” the arrival of three Libyan students from Wuhan to Houari Boumediene Airport today in the morning.
The plane carried 63 passengers from the Algerian community living in Wuhan, as well as a number of Tunisians, Mauritanians and Malians.
The same source clarified that the Libyans along with the Algerians will be in a hotel and under quarantine for 14 days in order to follow up and monitor their health situation by a special medical team.
It should be noted that no coronavirus cases were recorded.
The economist Abu Bakr Abu Al Kacem stated that the Central Bank refused to pay the salaries of January, which is unacceptable, pretending that it did not approve the financial arrangements for the year 2020, although one of the reasons for the delay in adopting the financial arrangements is the Central Bank itself.
He also stressed that the Ministry of Finance followed the legal procedures in this regard, and “the Central Bank has no legal argument to refuse paying the salaries of January”.
“The central bank went beyond all applicable laws”, he added.
The General Electricity Company of Libya confirmed that the power station in southern Tripoli ceased its operations after the smoke of trash fire from a nearby landfill blocked the air filters in the stations.
The company explained that the issue resulted in the loss of about 400 megawatts, increasing the deficit in the daily power output.