Abdul Hamid Dbeibeh, the head of the Government of National Unity, stated in an interview with CNBC Arabia that he expects the removal of fuel subsidies by the middle or end of the current year after convincing Libyans.
Dbeibeh affirmed that his government will provide compensation for direct fuel subsidies by increasing citizens’ income, which accounts for about 40% of the general budget.
The Prime Minister explained that subsidy removal requires realistic preparation for Libyans to understand the changes, with Libyan expatriate capital estimated at over $20 billion.