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Libyan parliament passes extra $18bn budget funding

By Pramod Kumar
Libya budget Reuters/Esam Omran Al-Fetori
A man fills a gas cylinder in a junk shop in Benghazi. The city, base of the eastern parliament led by Osama Hammad, suffered power outages at the end of June
  • Cash fills hole in original Libyan budget
  • Funds designed to drive reconstruction
  • Unclear if central bank will transfer money

Libya’s eastern-based parliament has approved an additional budget of 88 billion dinars ($18.3 billion) to drive reconstruction and achieve economic stability.

The approval was unanimous in a closed session, Reuters reported, citing spokesman Abdullah Belhaiq.

In April, the Benghazi-based government of prime minister Osama Hammad secured an initial budget worth 90 billion Libyan dinars, the Northern African News website said.

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Hammad’s government, which took power in March 2023, controls the east and large parts of the southern region of Libya.

The additional budget was allocated to address a deficit in the initial budget, the Reuters report said, quoting House of Representatives member Saltana Al-Mosmari.

House of Representatives member Aisha Tublqi said that the Central Bank of Libya (CBL) will oversee the implementation of the additional budget.

The UN appointed Abdulhamid Al-Dbeibah as the Tripoli-based government’s interim prime minister in 2021.

The CBL is located in Tripoli. However, it is remains unclear whether the CBL governor, Sadiq Kabir, will transfer the budget funds to the Hamad government.

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