During today’s Saturday meeting, the Governor of the Central Bank of Libya, Seddiq Al-Kabeer discussed with the President of the Presidential Council, Mohamed Al-Manfi, and the Prime Minister of the National Unity Government, Abdul Hamid Dbeibeh, the status of revenue and public expenditure for the year 2023. They also discussed the role of the financial committee in preparing estimates for the general revenue and expenditure for the year 2024, in the presence of the appointed Minister of Finance, the Minister of State for Cabinet Affairs, and the Director of Banking and Currency Control Department.
The meeting addressed possible measures to rationalize consumer spending, audit the fuel bills supplied for private use, and the consumption of the General Electricity Company of fuel.
The foreign exchange situation during 2023 was discussed, including the reasons for the $5 billion increase in demand. Measures required to control border crossings to reduce the smuggling of goods were also discussed, taking into account existing approvals and their goods in transit, valued at approximately $4 billion or about 20 billion dinars.