Al-Huwaij to 218News: Changes in exchange rates affect local markets

The Minister of Economy and Trade Mohammed Al-Huwaij said in a statement to “218News” that the exchange rate fluctuations helped directly in the increase in commodity prices in the local market.

Al-Huwaij said the exchange rate hike started by higher costs of transporting goods globally.

Commenting on the high prices of flour, he revealed that the unity government is seeking to establish a “Grain Bureau” to maintain a strategic stock; in preparation for entering the subsidy phase in the coming years, in order to control prices in line with the citizens’ incomes.

On the decision of the Ministry of Economy to extend the exception to limit the make year of imported cars to ten years, Al-Huwaij stressed the possibility of extending it for another period after monitoring the movement of the international market and local conditions in terms of purchasing power.

He pointed out that the agreements recently signed by the ministry with a number of neighboring countries, the latest of which is the “Four Banners”; aim directly at importing quality goods that contribute to lowering prices and protecting consumers by benefiting from the transit of goods to Libya’s neighboring countries.

The Minister’s statements came on the sidelines of his participation in the legal exhibition in the city of Regdaline, on which he said that the Ministry of Economy seeks to adopt it as a center for the whole of Libya; in order to monitor goods and monitor all variables that will protect the consumers.

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