Libyan Rival Parliament to Replace Fuel, Food Subsidies With Cash Payments

One of Libya's rival parliaments wants to replace subsidies for food and fuel with cash payments to citizens. A senior lawmaker said on Monday the idea is to relieve some of the pressure on public finances hit hard by dwindling oil revenue. In Libya, spending is largely controlled by the central bank, and it is trying to stay out of the conflict between the two Libyan governments and parliaments. But Reuters says it shows the dire state of public finances as oil revenues dwindle. To offset the rising prices, the GNC will pay every Libyan the equivalent of $39 a month,