Yesterday, Special Representative of The Secretary-General (SRSG) Ghassan Salame claimed that the economy in Libya is becoming increasingly unstable due to the conflict.

Salame said that “Oil production will soon be reduced to 72,000 barrels per day”, stating that the blockade results in losses of approximately USD 55 million per day in national revenue.

He also emphasized that the cumulative lost revenue as a result of the blockade reached over $622 million.

“When I say 72,000 barrels per day, it is to be compared to what the situation was two weeks ago, where the production was almost 1,300,000 barrels per day.” He added.

Morover, SRSG talked about institutional fragmentation as well as the inability to enact a unified economic policy is exacerbating existing challenges and creating new ones.