LIBYA: news on Economy in real time

• #LIBYA
• #Conflict
• #CRISIS
• #Economy
• #Electricity
• #Gas
• #Oil
• #Politics
• #Production

Since the appointment of Fathi Bachaga as the new Prime Minister by Parliament last February and the refusal of former Prime Minister Abdel Hamid Dbeiba to cede power, Libya has faced a political stalemate threatening its oil production. In addition to directly impacting the Libyan population, the situation has repercussions on international prices, while the Ukrainian conflict has already led to a significant increase in oil and gas prices.

• #LIBYA
• #Cereals
• #EconomicAnalysis
• #Economy
• #Ukraine
• #Wheat

Libya is heavily dependent (88%) on imports, mainly from Ukraine and Russia, for its cereal needs. The Libyan compensation system for basic necessities has been failing since 2011, which has caused tensions with producers, affected their activity and made prices sensitive to economic fluctuations. The consequences of the war in Ukraine will therefore be significant for the country, while grain prices are soaring on the international market and supplies are likely to become increasingly difficult.

• #EGYPT
• #LIBYA
• #MEDITERRANEANEXCHANGES
• #TUNISIA
• #TURKEY
• #Agribusiness
• #Agriculture
• #Economy
• #Export
• #Imports
• #InternationalTrade
• #News

Since the outbreak of the war in Ukraine, tensions related to the supply of basic products have been exacerbated in Libya. In this sense, shortages of oil and flour have been noted. This phenomenon is likely to be accentuated by the decisions of Tunisia and Egypt to stop their exports of basic products.