Overview
- Libya’s eastern and western legislatures, meeting in Tripoli, approved a 190 billion dinar state budget on Saturday under Central Bank Governor Naji Issa’s supervision.
- The plan assigns about 73 billion dinars for salaries, 40 billion for development projects, 37 billion for subsidies, 18 billion for family allowances, 10 billion for operations, and 12 billion for the National Oil Corporation.
- The Government of National Unity will manage salaries, operational spending, and subsidies, while joint committees will set project priorities and the House of Representatives will introduce implementing laws.
- The central bank said the unified budget could strengthen financial stability, though forces loyal to Khalifa Haftar control major oil fields and ports that could shape how the plan is carried out.
- A U.S. adviser said Washington helped facilitate the accord, and Libya’s light crude reaches European refineries quickly, which raises the market impact of steadier production and revenue flows.