TRIPOLI, Sept. 19 (Xinhua) -- UN Support Mission in Libya (UNSMIL) on Wednesday welcomed the economic reform package adopted by the Libyan government.
"UNSMIL welcomes the Presidency Council's decision, in consultation with the Central Bank of Libya, HoR and HCS, to commence the implementation of the economic reforms package," the Mission said in a statement.
"The UN hopes that these reforms improve the livelihoods of Libyans across the country," the statement said.
During a meeting last week attended by Prime Minister Fayez Serraj and senior officials from the Higher Council of State and the Central Bank of Libya, a reform program was adopted in order to revive the country's deteriorating economy.
The package includes changing the local currency's exchange rate against foreign currencies by imposing fees on foreign currency purchases and addressing government subsidization of fuel.
Libya's economy has suffered from lack of liquidity in banks and dramatic drop in the exchange rate of the local currency against foreign currencies.
Following the 2011 uprising that toppled former leader Gaddafi's regime, Libya has been suffering economic crisis with decrease of oil revenues, the country's main source of income, due to closure of oilfields and ports by armed conflict.
