During a press conference held today, the Minister of Finance Faraj Boumtari declared the launch of a financial reform program for 2020, in a step he described as “great” for the reform of public financial management systems in Libya.
The Ministry indicated that it is a step within a 5-year program that includes reform initiatives planned by the Ministry of Finance.
In addition, he expressed the Ministry’s commitment to the reform program, expressing his belief in the ministry’s ability to reduce costs by up to 10%.
He added that the reform program can also pave the way toward renewing the transparency, responsibility and governance confidence in the Libyan administrative systems.
“The reform program will achieve the required efficiency in the financial affairs of the public sector in Libya,” he said.