Local News: Economic News
International Monetary Fund: Libya needs a clear-cut economic strategy and it must reduce the level of spending.
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Washington, June 12, 2023 (LANA) - The International Monetary Fund has affirmed Libya's urgent need for a transparent budget that reduces costs associated with high spending on public sector wages and subsidies.The fund indicated in a report that public sector salaries dominate government spending, as about 2.2 million people - a third of the population - work by default in the public sector, and subsidies and grants amount to about a quarter of spending.He also noted that fuel subsidies... Read more
Czechs provide Benghazi municipality with equipment in the field of food and drug control
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Tripoli, May 20, 2023 (LANA) – The Czech government has provided support to the municipality of Benghazi in the form of equipment and devices in the field of food and drug control, and the training of a number of Libyan cadres how to use these equipment.The media office said that the head of the Executive Council of the Benghazi municipality, Saqr Bojwari, met with the Czech ambassador to Libya, "Jan Vitical"; they discussed the support provided by the Czech government related to the... Read more
Minister of Finance is discussing with his Saudi counterpart ways to enhance financial and economic cooperation.
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Jeddah, May 13, 2023 (LANA) - Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, held a bilateral meeting with his counterpart in the Kingdom of Saudi Arabia, "Mohammed Abdullah Al-Jada'an," on the sidelines of the annual meetings held by the Islamic Development Bank Group during these days in Jeddah.The meeting discussed actual and practical steps that would strengthen financial and economic relations between Libya and Saudi Arabia, and raise the level of... Read more
Mellitah Company completes the drilling of oil well No. (FC25) with a production capacity of (7,500) thousand barrels of oil per day.
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Tripoli, April 23, 2023 (LANA) - Mellitah Oil and Gas Company announced the completion of the drilling of oil well No. (FC25), the second for this year, with a production capacity of "7,500" thousand barrels of oil per day, without the presence of associated water.The Mellitah Company had announced, earlier, the drilling of oil well No. (FC24) on "January 31" in the El Feel field, with a production capacity of about 7,200 barrels per day....)...... Read more
Ministry of Foreign Affairs and the Oil Corporation are coordinating to sign agreements with international oil companies
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Tripoli, April 13, 2023 (LANA) – The Minister of Foreign Affairs and International Cooperation, Najla Al-Mangoush, discussed with the President of the National Oil Corporation, Farhat bin Qadara, on Wednesday, aspects of cooperation and coordination between the ministry and the Corporation to activate agreements with international oil companies.The Ministry of Foreign Affairs and International Cooperation said that the meeting, which was held at the ministry's headquarters, comes within... Read more
