Today, Sunday, the Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, approved the results of the work of the mutual debt settlement committee between the Ministry and the Social Security Fund, which includes several types of balances registered with the Ministry and the Fund, such as the debts of the minimum wage and the accumulated deficits in the accounts of the Military Retirement Administration, and the debts of administrative expenses. Basic and quality health care and basic pension settlements between the Social Security Fund and the General Authority of the Social Solidarity Fund.
Al-Mabrouk instructed the settlement committees at the Ministry of Finance to finalize all existing settlements in the appropriate legal and technical form, in order to ensure that the balances of public institutions, funds and companies with the Ministry of Finance are corrected.
According to the media office of the Ministry of Finance, the settlement aims to control the conditions of balances and mutual debts between the Ministry of Finance and the Social Security Fund during the time range from January 2006 to December 2020, with a total amount of exchanged and accumulated amounts between these parties amounting to 13 billion Libyan dinars, and the Ministry aspires behind the completion of these settlements is to make the necessary financial corrections, to adjust any differences in the balances, and to ensure the stability of the Social Security Fund budgets and to achieve the financial sustainability required to overcome any cash or actuarial deficits.
It should be noted that the Ministry of Finance will refer the final settlement procedures after they have been approved by the Minister to present them to the Council of Ministers of the Government of National Unity, for final approval and approval of the mutual indebtedness between the Ministry of Finance and the Fund, and that the legal framework for these periodic settlements between them is based on the Public Debt Law No. 15 of 1986, while this step comes as a continuation of a set of important settlements that the Ministry of Finance recently concluded with a number of funds, agencies and other public companies.