Blockade on oil disrupts Lebanese economy

Last Friday (24), the president of the central bank of the Libya, Sadiq al-Kabir, told Reuters that blocking important ports the country’s oil is damaging the economy and needs to be resolved quickly, as it can lead to a budget deficit in 2020.

“At the moment, oil accounts for 93% to 95% of the total revenue, and covers 70% of total expenses. That’s a gunshot wound to the head, it will libya and the Libyan people,” Kabir said.

Fayez al-Serraj, Libyan Prime Minister Recognized internationally, it also warned of a “catastrophic situation” if the locks are not terminated. The case already lasts a week and are made by forces aligned with military commander Khalifa Haftar, who leads the east of the Country.


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