Tag: budget

The Second Deputy Chairman of the High Council of State, Omar Al-Abidi, revealed in a statement to our source that the visit of the Board of Directors of the Central Bank of Libya, led by Governor Naji Issa, carries significant political symbolism and reflects Libya’s commitment to unity and the fact that Libya is one united entity.

He also indicated that this visit is expected to be followed by a series of consecutive meetings of the Central Bank’s Board of Directors across various regions, including Benghazi, Sabha, Misrata, Zawiya, Zintan, and other Libyan cities.

Additionally, he stated that the 2025 budget will be a unified budget approved by the House of Representatives in consultation with the High Council of State.

Mrajaa Ghaith, former board member of the Central Bank of Libya, clarified in his statement to our source regarding the open letter signed by several experts about the financial challenges facing the Libyan state. He stated that the paper is mainly related to the preparation and implementation of the 2025 budget. Its purpose is to encourage the parties involved to agree on a budget that will serve as the basis for spending in the coming year, along with measures to reduce waste, unnecessary spending, and to encourage the collection of the state’s rightful revenues. However, it does not address the overall issues of the Libyan economy, but rather focuses on the 2025 budget with some additional proposals.

Ghaith also stated: “The success of the recommendations depends on the seriousness of the parties in control of the state, and whether they have the will to combat waste and excessive spending without adhering to laws and spending through an approved budget, or whether spending will continue based on personal interests and desires.”