The head of the Government of National Unity, Abdul Hamid Dbeibeh stated that the government’s decision to lift subsidies on fuel is final, emphasizing that the current situation, where subsidies account for 50% of the country’s income, cannot continue.
Dbeibeh affirmed that international institutions such as the International Monetary Fund, the Central Bank of Libya, and local regulatory bodies have all warned against persisting in the current situation, which drains the state budget. He added that fuel in Libya is considered free, making it the cheapest country globally in terms of fuel prices, with the price of a liter of gasoline not exceeding 3 cents (0.15 dinars).
He pointed out that Libya’s situation is different from many countries in the region, emphasizing the “need to learn from the experiences of similar countries in lifting subsidies and choosing the closest country to our situation.”