The Head of the Libyan Audit Bureau, Khaled Shakshak, told our source exclusively that the Audit Bureau’s report includes a summary of the Bureau’s activities completed during 2024. The number of entities subject to oversight exceeded one thousand entities that were supposed to be included in the report, while the total number of entities under the Bureau’s supervision reached around 2,300, of which approximately 60% were targeted for review and inclusion in the general report.
Shakshak added that the reasons for the decline are partly due to price-related factors, and partly to the continued use of the barter mechanism throughout 2024. This mechanism prevented the transfer of nearly 9 billion to the budget and public revenues during 2024, making it a key reason behind the drop in revenues. This was compounded by the National Oil Corporation’s failure to implement development programs and increase production as targeted during 2022 and 2023.
Shakshak noted that meetings with the Audit Bureau in eastern Libya are ongoing and are coordination meetings rather than for unification purposes, as unification falls within the mandate of the legislative authorities. He explained that heads of oversight bodies meet to coordinate, unify work mechanisms, and maintain smooth communication among members and the Bureau.
He stated that the pressures faced by the Audit Bureau over the past year were severe and will not be repeated, as they were linked to security and political factors and major corruption cases that targeted the Bureau. He emphasized that the Bureau is currently operating with full independence and is exercising its oversight role over most entities subject to supervision without any pressure.
Shakshak added that this year differs from previous years, as emphasis was placed on the necessity of discussing the report’s findings with all sectors and entities. These discussions witnessed important, useful, and convincing dialogues, without resulting in any amendments to the report.
He stressed that the country’s economic situation is poor and concerning, and that the deficit persists at both local and foreign currency revenue levels, amid growing risks. He affirmed that the solution lies in unifying the authorities responsible for managing public funds, unifying the budget, ensuring accountability, and addressing the political impasse. He recommended consensus and the unification of institutions so that there is a single authority, a unified budget, real oversight, and transparency—outcomes that can only be achieved through the unification of authorities.
