During a televised interview for Libyan WTV channel and Tabadul Platform, the GNA’s former Economy Minister, Ali Al-Issawi, said his term as the Minister of Economy and the period of tenure of ministerial portfolio was really at a difficult juncture; at that time, there have been an aggression on Tripoli, a tough inflation, as well as a cash-flow crunch.
According to Al-Issawi, the level of inflation in 2017 stood at 26 per cent, and reached 28 per cent until the middle of 2018. However, levels of inflation fell to 14 per cent at the end of 2018. “In 2019, the level of inflation reached 2.2%.” Al-Issawi stressed.
“The Ministry has been switched off, and other parties have been exercising the Ministry’s prerogatives.” Al-Issawi said.
According to Al-Issawi, during his tenure, they have begun to address the liquidity crisis, and the level of inflation has started to decrease as no major crisis has occurred even during the war. “This was only thanks to the support of economic reforms that have been advocated and signed by the state concerned parties.
As far as Libya’s fuel subsidies is concerned, Al-Issawi expressed his dissent to the progressive removal of fuel subsidies, pointing out that this choice requires 4-year government stability in order to set up a long term schedule and gradually remove fuel subsidies (over four years).
“A decisive decision should be taken, especially as we are in a transitional period and difficult circumstances.” He indicated.
Concerning his exemption from his duties, Al-Issawi pointed out that Al-Serraj did not mention any particular reason for his removal.