On Thursday, the Governor of the Central Bank of Libya, Seddiq Al-Kabeer, held a meeting with the Prime Minister of the National Unity Government, Abdul Hamid Dbeibeh, the President of the Presidential Council, Mohamed Al-Manfi, the Minister of Transportation, Mohamed Al-Shahoubi, and the Minister of State for Cabinet Affairs, Adel Jumaa, along with the Director of Cash Oversight at the Central Bank, Naji Issa. The meeting focused on government spending for the year 2024.
The meeting discussed the specific regulations for the amounts allocated to support fuel and its derivatives for the benefit of the General Electricity Company or distribution companies, which reached over 40 billion dinars in 2023, putting a strain on the public budget.
Al-Kabeer explained that the balance of documentary credits through commercial banks open to supply foodstuffs amounts to 4 billion dinars. These funds will contribute to providing essential goods during the blessed month of Ramadan. He emphasized the need for the Ministry of Economy, Trade, and the Municipal Guard to carry out their assigned tasks and continue coordinating with the Ministry of Economy to meet the citizens’ needs according to the necessary regulations.
The attendees emphasized the importance of establishing necessary controls that contribute to regulating public spending and working on improving citizens’ living conditions in all aspects, providing suitable conditions for them, and focusing on the developmental program in all regions of Libya in all its aspects.
They emphasized the need to disclose all government expenditures in the budget sections and follow up on the committee’s work formed to present alternatives for fuel support and determine the actual needs, considering it a crucial file.