Libya postpones budget vote again
#EconomicAnalysis #Economy #News #LIBYA
Denys Bédarride
Wednesday 11 August 2021 Last update on Wednesday, August 11, 2021 At 3:31 PM

On August 2, the Government of National Union (GUN) asked the House of Representatives (CoR) to postpone the examination of a bill on the budget, before presenting the next day a new bill increased to 111 Md LYD, including 44 billion LYD for salaries, 19 billion LYD for operating expenses, 20 for capital expenditure, 23 billion LYD for grants and 6 billion LYD for emergency expenditure.

No re-examination date has yet been specified on a new draft that departs from the initial demands of the CoR. As a reminder, the GUN had presented a budget bill to the House on March 17, which returned it on April 20, believing that the budget presented was too large given Libya’s revenue forecasts and the mandate of the government. government, which is due to end with the national elections on December 24, 2021.

The CoR had therefore proposed a budget of around 59 billion LYD (against 96 billion LYD initially proposed by the GUN): 33.5 billion LYD for salaries (against 33 billion LYD in the budget proposed by the GUN), 20 billion LYD for grants (against 24 billion LYD), 15 billion LYD for capital expenditure (against 22 billion LYD), 9 billion LYD in operating expenditure (against 12 billion LYD) and 1 billion LYD for emergency expenditure ( against 5 billion LYD).

On May 25, the CoR approved the first chapter of the budget, which sets salary expenditure at LYD 34.6 billion, provided it includes several laws such as a 2018 law on increasing teachers’ salaries. and a law on the adjustment of the salaries of certain public agencies.
Source French Embassy in Libya

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