Govt Spent $30bn on Fuel Subsidies

The Libyan Audit Bureau has stated that Libya has spent $30 billion in the last five years on fuel subsidies.

The subsidies make Libyan fuel one of the cheapest in the world and helps fuel the illegal export of fuel abroad.

The Bureau suggested that the subsidies, which have reduced since 2014 due to austerity measures, should be provided to Libyan citizens on a card instead of on the fuel directly, in an attempt to make smuggling less attractive.

(Source: GardaWorld)

2 Responses to Govt Spent $30bn on Fuel Subsidies

  1. Tarek 30th August 2017 at 7:04 pm #

    The best solution to avoid fuel smuggling as will as to reduce the misuse of fuel by the Libyan is to change this way of support to be cash based and let the fuel cost to be equal to international price.

  2. Dr Satya P.Bindra 1st September 2017 at 7:19 pm #

    Libya must not remove the subsidies at this time of political instability. How can people pay higher fuel prices when their is no cash from the bank? I quote new UNSMIL chief “People are frustrated with their deteriorating living conditions. They have to wait to access a fraction of their month’s salary – the equivalent of what’s now worth $25”.“People are tired of the endless cuts in electricity and water, which in turn take down the telephone system and the internet. Libyans cannot understand being poor in a country rich with natural resources. An oil producing country where they must queue for sometimes a day to get 20 litres of petrol”.unquote

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