Marai Al-Darsi, Director of Consumer Protection at the Ministry of Economy, has disclosed that local production accounts for only 10% of the country’s essential goods, leaving Libya heavily dependent on imports to cover 90% of its market needs.
Speaking to Libya Al-Ahrar, Al-Darsi attributed the statistics to official data from the Central Bank of Libya (CBL), highlighting the potential of the private sector to play a larger role in meeting demand. However, he raised concerns over monopolistic practices and speculation that could disrupt price stability and reduce product quality.
“Traders have the capacity to meet consumer needs,” Al-Darsi stated, “but the key challenges lie in regulating prices and ensuring quality, especially under the influence of monopolistic behaviour on imported goods.”
Ahead of Ramadan, Al-Darsi emphasized ongoing collaboration with the private sector to assess inventory levels and the volume of open letters of credit. He announced plans for meetings with food suppliers to ensure a steady flow of goods in the coming months, noting that current inventory is sufficient for three months, contingent upon the CBL's timely opening of credits for essential imports like wheat.
Political divisions pose another hurdle to price regulation efforts, according to Al-Darsi, who called for the establishment of an economic body to manage stock levels, secure essential goods, and stabilize prices.
He warned of traders’ reluctance to disclose inventories and their disregard for ministry directives, which further complicates the government’s ability to maintain market stability.
As Ramadan approaches, all eyes are on the government’s capacity to mitigate supply chain risks and ensure affordability in a market reliant on external imports.