Posted on Thursday, 17 May 2018 13:38By ReutersAs the Muslim world prepares for the holy month of Ramadan, Libyan shoppers are crippled by a cash crisis that has hit their annual shopping sprees. But Libya's currency has been losing value against the dollar and a liquidity crisis in banks has left people with tighter budgets. "This of course affects the poor citizen, not the citizen who lives in luxury," he added. The U.N.-backed government and the central bank in Tripoli agreed this month on public spending of 42 billion Libyan dinars ($31 billion) for 2018, up from 37 billion last year. It said 24.5 billion dinars will be spent on salaries, 6.5 billion dinars on subsidies for fuel and other items, 4.7 billion for investment and 6.7 billion for other expenditures.

Source: The North Africa Journal May 17, 2018 12:45 UTC