Sanalla: It is unthinkable that Libya is borrowing money from international banks for "rice and flour" while it has oil

Alwasat - Cairo Sun 24 May 2020, 03:58 AM
alwasat radio

The Chairman of Libya's National Oil Corporation, Mustafa Sanalla, said that the income of the oil sector during the month of April did not exceed 50 million dollars, compared to about two billion dollars during April 2019.

He stressed that "it is not reasonable for Libya to take money from international banks for rice and flour while oil production has been disrupted by a group that does not represent the Libyan people at all."

Sanalla in a speech on the occasion of the Eid Al-Fitr holiday said that Libyan oil income at its current level is not nearly enough a third of the monthly budget for the oil sector. Adding: "The Libyan oil sector faced a shock that the sector has not gone through since the start of production in 1961."

He concluded that "oil constitutes about 95% of the general budget, while stopping production means that there is no income, and therefore the budget became very very limited."

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