CBL governor expects improvement of Libya’s economy

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CBL governor expects improvement of Libya’s economy

February 04, 2018 - 18:06
Written by: SafaAlharathy

Photo: CBL website

The Governor of the Central Bank of Libya, Siddik Al-Kabir, said that the next stage will witness a more prominent role for private sectors and the strengthening of service activities in addition to boosting the wheel of economy and industry in the country.

During his participation in a workshop held in Tripoli on Libya's economic and financial reform program, Al-Kabir explained that the low participation of the private sector in economic activities has negatively affected the economic and financial process in Libya.

Al-Kabir warned that the economy in Libya is of a rentier nature that depends entirely on oil as a single income, and which is exposed to an external and internal pressure every now and then.