Libyan City of Benghazi to Become Economic Capital, NTC Says

Libya’s eastern city of Benghazi, where protests that led to the ouster of the late Muammar Qaddafi began, will become the country’s new economic capital, the head of the ruling National Transitional Council said.

“Life and activity will return to all cities,” Mustafa Abdel Jalil said in a news conference in Tripoli today. “Benghazi will be the first economic city in Libya.”

Benghazi was marginalized during the old regime and its people suffered from a lack of basic services. All economic institutions were centralized and based in the capital.

The NTC was created in Benghazi in March and many of its members are from the city.

To contact the editor responsible for this story: Mahmoud Kassem at mkassem1@bloomberg.net

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