Financial Consultations between GNA & Interim Government

0
404

The Deputy Financial Minister of Libya’s Interim Government, Imrajaa Ghaith, revealed that consultations are ongoing with the Government of National Accord (GNA). This is over the unification of the general budget. Ghaith explained that it is the first negotiations of its kind, since 2015.

In press statements, Ghaith said that the negotiations stem from the oil resumption agreement. This is in order to divide the revenues through a unified budget, for the various regions of the country.

Ghaith added, “All government sectors are preparing a scenario regarding their expenditures next year. The final budget figure has not yet been determined. 60% of the revenues will be given to the GNA, as a preliminary proposal. This is subject to discussion with the technical committees.”

For his part, the director of the Centre for Economic Studies, Ahmed Aboulsen, discussed the distribution of oil revenues according to Libyan law. “Around 60% is set for development, and the rest is to be distributed across the three regions of Libya.”
He pointed out that oil revenues are almost frozen since the new agreement and will be so until the parties reach a settlement.