business Libya
Libya's economy vulnerable as fuel imports reach 40% of total imports
Libyan Minister of Economy, Suhail Abu Shiha, stated that the country's fuel imports have increased the economy's vulnerability, now accounting for 40% of Libya's total imports. This rise in the fuel import bill has drawn attention to fuel smuggling, particularly its links to state-recognized militias and security forces, and has reignited discussions about the sustainability of state fuel subsidies. Abu Shiha anticipates a decrease in the fuel import bill when the Ras Lanuf refinery begins production in early 2027, which he expects will add value to the economy. However, he did not provide specific production figures for the refinery or long-term solutions for the fuel subsidy issue.
Libya Herald1 min
