The US Special Envoy to Libya, Richard Norland, stated on Thursday that he discussed the urgent need for a consensus-based agreement on a unified budget between Libya’s eastern and western regions with Central Bank Governor Al-Siddiq Al-Kabir.
Norland emphasized that such an agreement is essential to curb spending, ensure transparency and accountability, and allow for cohesive monetary and fiscal policy.
He added that Libya has operated without a unified budget for an extended period.
Last month, the unanimous approval of the largest budget in Libya’s history by the House of Representatives sparked new political discord. This renewed the power struggle between the Presidential Council and the High Council of State (HCS), with threats of legal action to overturn the decision.
The budget is estimated at around 179 billion dinars. The House of Representatives approved the allocation requested by Osama Hammad’s government, adding approximately 89 billion dinars for the remaining part of the current year. This marks a 90 billion dinar increase compared to the 2023 budget.
The additional funds are intended to cover parallel spending by authorities in eastern Libya while allocating the budget to the Government of National Unity in Tripoli.
