Libya Clears First Unified State Budget in 13 Years, Marks Fiscal Milestone: Central Bank
22:21 11.04.2026 (Updated: 08:49 12.04.2026)
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Libya Clears First Unified State Budget in 13 Years, Marks Fiscal Milestone: Central Bank
This development bolsters efforts to stabilize the exchange rate and strengthen the Libyan dinar, the Central Bank of Libya said in a statement.
"It establishes a financial framework grounded in the State's actual fiscal capacity, ensuring the achievement of financial sustainability requirements and reinforcing the foundations for balanced development across all regions of the country."
The objectives are to be achieved through tighter control of public spending and reduced fiscal distortions, helping to improve key macroeconomic indicators, the bank noted.
The two rival legislative chambers agreed on a budget of 190 billion Libyan dinars, a representative of the High State Council in Tripoli, Abduljalel Shawesh told media.
Libya has been split between eastern and western administrations since a 2014 civil war. The last unified budget was approved in 2013.
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This development bolsters efforts to stabilize the exchange rate and strengthen the Libyan dinar, the Central Bank of Libya said in a statement.
"It establishes a financial framework grounded in the State's actual fiscal capacity, ensuring the achievement of financial sustainability requirements and reinforcing the foundations for balanced development across all regions of the country."
The objectives are to be achieved through tighter control of public spending and reduced fiscal distortions, helping to improve key macroeconomic indicators, the bank noted.
The two rival legislative chambers agreed on a budget of 190 billion Libyan dinars, a representative of the High State Council in Tripoli, Abduljalel Shawesh told media.
Libya has been split between eastern and western administrations since a 2014 civil war. The last unified budget was approved in 2013.
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Sputnik Africa | X
