Economic analyst: The Libyan dinar has become a victim of the conflict between the two governments
Economic analyst, Ahmed Al-Khamisi, said that the Libyan dinar has become a victim of the conflict between the two governments, which are seeking funding to complete projects and gain popular satisfaction and support.
Al-Khamisi added, in exclusive statements to the “Safar” platform, that the increase in money supply in the economy and the presence of the counterfeit currency of 50 dinars, caused an increase in demand for hard currency for the purpose of speculation, which requires the two governments to adopt austerity policies.
He pointed out that total expenditures for the first quarter of 2024 amounted to $4.3 billion, while revenues amounted to $4.8 billion, which means there is a surplus estimated at about half a billion dollars, due to the Central Bank’s policy of restricting documentary credits during the months of January and February to basic commodities only.
He explained that the Libyan economic needs for the year 2024 amount to $36 billion, while our revenues are expected to reach only $25 billion, with a deficit that will reach $11 billion.
