The newspaper Turkiye Today reported on Tuesday that several countries—including the United States, European governments, and major Gulf states—have supported Libya’s first unified national budget in more than a decade, describing it as a pivotal step toward reconciliation between the country’s long-divided eastern and western regions.
According to the newspaper, this financial plan holds particular significance for Libya’s oil sector, as it includes the first operational budget for the National Oil Corporation in years, along with funding aimed at increasing oil production and oversight provisions designed to ensure the effective use of funds.
The report also noted that oil experts described the increase in oil and gas production as beneficial not only for Libyans but also for international partners.
They added that increased production “will contribute to regional and global energy security,” a point of considerable importance amid ongoing volatility in global energy markets.
