PM Bashagha presents US$21 billion budget

The parallel government headed by former interior minister Fathi Bashagha has proposed 94 billion Libyan dinars ($21 billion) in their draft budget for 2022.

“The draft budget for the fiscal year 2022 was presented, discussed, and delivered during a meeting chaired by Prime Minister Fathi Bashagha on Thursday,” the latter’s minister of planning and finance Osama Saad said.

He noted that the draft will be forwarded to the House of Representatives for approval in the form of a general budget law.

“The total value of the proposed budget amounts to 94 billion and 830 million and 515 thousand and 200 Libyan dinars and is divided into four chapters.”

Saad indicated that most of the bill will be used to pay the salaries of government sector employees, with a value of more than 41 billion dinars.

He further disclosed that the budget includes the “government’s” work plan during the current fiscal year and specific goals at an estimated financial cost.

It is noteworthy that the House of Representatives had repeatedly refused to ratify the budget bills submitted by the Government of National Unity, headed by Abdul Hamid Dbeibah, arguing that the large size of the budget is not compatible with the short term of his government.