Libya ramadan crisis: rising prices, cash shortages

Libyans are observing Ramadan with traditional family gatherings and evening meals, but worsening economic conditions have overshadowed the holy month for many households. reporting by Asharq Al-Awsat plus agencies on February 21st 2026.

Fifteen years after the 2011 uprising that toppled longtime leader Moammar al-Gaddafi, Libya remains divided between rival administrations in the east and west. Although the country possesses vast oil and gas reserves, ordinary citizens continue to face shortages of basic goods, fuel supply disruptions and mounting living costs.

Ramadan is typically a period of increased spending, as families prepare large meals for iftar at sunset and suhoor before dawn. This year, however, shoppers in Tripoli and other cities report rationed goods in supermarkets, limited fuel supplies at petrol stations and widespread cash shortages. Many bank customers have struggled to withdraw money, with ATMs frequently out of service.

Residents say the decline of the Libyan dinar has compounded financial pressures. The central bank recently devalued the currency for the second time in less than a year, describing the move as necessary to preserve monetary stability and safeguard public finances. Prime Minister Abdulhamid Dbeibah acknowledged that the decision has placed additional strain on citizens already coping with rising prices.

Food costs have increased sharply in recent weeks. Cooking oil prices have reportedly doubled, while meat and poultry prices have risen by roughly half. Subsidized gas cylinders, officially priced at low rates, are often unavailable through state distributors and are instead sold on the black market at significantly higher prices.

The United Nations has warned that growing poverty and economic stress, combined with Libya’s fragile security environment, could create conditions for renewed instability. Officials have also cited structural problems, including the absence of a unified national budget and uncoordinated public spending between parallel institutions operating in different parts of the country.

Oil revenues, the backbone of Libya’s economy, have also faced fluctuations, while public spending continues to rise at what authorities describe as an unsustainable pace.

Although security conditions have improved compared to previous years of open conflict, many Libyans say stability has yet to translate into tangible economic relief. As fireworks marked the anniversary of the uprising in Tripoli, daily life for many citizens remained defined less by celebration and more by financial uncertainty and concern over the country’s economic future.

Asharq Al-Awsat, Maghrebi.org