Former American University Economics Professor Dr. Osama Qadi expressed his concern about the current political and economic situation in Libya.
This came during his participation in the symposium organized by the British Multicultural Forum in the capital, London, regarding the negative economic effects of the conflict over the position of Governor of the Central Bank of Libya.
Dr. Qadi pointed out that the poor performance of politics, military and financial aspects negatively affected the economy, which led to a significant deterioration in the economic situation.
He added: “In light of Libya’s 99% dependence on oil exports, which have now stopped, this will have negative consequences on the economic situation, especially with the fluctuations in oil prices.”
Dr. Qadi pointed out that it is necessary to shift to diversified sources of income, and he also pointed out that there is a global trend towards reducing dependence on oil and shifting to electric cars.
Dr. Qadi also highlighted the structural challenges in Libya’s economy, such as the structure of production and agriculture, where agricultural areas have declined and the unemployment rate has risen significantly.
Dr. Qadi relied on figures and statistics to confirm the deterioration of the economic situation in Libya, and called for the need to take radical measures to improve the situation and achieve sustainable development.
The economics professor suggested the necessity of cooperation and benefiting from international expertise, considering that Libya is a member state of the United Nations and has the right to benefit from this expertise.
Last updated: September 23, 2024 – 21:20
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2024-09-24 10:34:35