With the participation of the Prime Minister and top officials, the meeting aims to strengthen transparency and equity in public fund management, addressing the country’s economic challenges.
Soldecanarias.net /Adeje
A key consultative meeting was held at the headquarters of the Central Bank of Libya, bringing together members of the bank’s Board of Directors, senior government officials, and representatives from the Prime Minister’s financial team. The central objective was to advance the preparation of the country’s unified budget for 2025, addressing critical issues for economic stability and development.
Participants included the Central Bank’s Deputy Governor, Marai Al-Barassi, along with prominent members of the financial committee appointed by the Governor, such as Ashraf Boras and Osama Al-Jilani. The meeting was notably attended by Prime Minister Dr. Osama Hamad, accompanied by his financial team, including the Director of the Ministry of Planning and Finance Affairs, Ahmed Al-Hassi.
During the meeting, several significant measures were agreed upon, including:
- The implementation of Law No. 18 of 2023, issued by the House of Representatives, regulating the national employee salary scale.
- The approval of a proposal to eliminate fuel subsidies, accompanied by the development of a suitable mechanism for implementing this reform.
- The inclusion of revenues from the Libyan Foreign Investment Foundation as a source of funding for the general budget.
While agreements were reached on chapters one, two, and four of the budget, discussions on chapter three were postponed to a future meeting.
Dr. Hamad emphasized the importance of unifying public revenue and expenditure, highlighting that these decisions aim to ensure social and geographical equity in the allocation of state resources. He also stressed the need to adhere to principles of transparency and fiscal responsibility to address the economic challenges facing the country.
This meeting marks a significant step toward consolidating the national budget and strengthening Libya’s financial institutions, aiming to foster development and reconstruction across all regions of the country.
