The Chairman of the Administrative Control Authority, “Abdullah Qadurbuh,” said during a ceremony organized by the Authority on the occasion of the 55th anniversary of its reports and the 76th anniversary of its establishment: Libya has spent trillions over the past years, yet it still suffers from the absence of a real healthcare system, education system, and infrastructure. He pointed to a clear divergence between monetary policy and fiscal policy, calling on Libyans to take responsibility and contribute to the success of this national project.
He added: following the issuance of Report 53, the Authority discovered major distortions and irregularities in both the administrative and financial sides within monetary institutions, in addition to the absence of a national database on which the state’s economy can be built.
According to “Qadurbuh,” work is currently underway to present the state’s first integrated national database, which will include details on public spending, revenues, oil, the number of citizens, and banks from 2011 to 2025, with the aim of forming a realistic vision for how to manage the state’s resources.
