Parliament session to discuss the draft of the 2021 national budget commences

The Libyan news agency (LANA) quoted the Chairman of the Finance Committee of the Chamber of Deputies, Omar Tintosh, as saying that the budget could be approved at today’s meeting, depending on the discussions to be held and the acceptance of the draft budget by the representatives. If the members of parliament did not accept the budget, it could be returned to the Government for amendment.

For his part, the member of the House of Representatives from Sibrata Almbruk Al-Khatabi said that, during today’s session, they would discuss the budget bill and the report of the finance committee.

He also confirmed in a statement to news outlets that the budget volume of 96 billion dinars was significant, particularly since it was directed mainly at three areas: the preparation of elections for 24 December, the unification of State institutions and the conduct of national reconciliation, adding that the budget had been prepared at a low exchange rate of Libyan dinars against the dollar and specific oil production, which could affect the future exchange rate of Libyan dinars.

He added that the draft budget needed to be reviewed, adding that it did not respond to the expectations of simple citizens, who benefited only from it on a monthly basis, stressing that it was huge in view of its limited-time limits.

On the other hand, he also made it clear that today’s session of the House of Representatives may discuss, along with the budget, the issue of sovereign office, and also address the constitutional rule file.

Libya’s Government of National Unity submitted its proposed budget to parliament late last March while also urging the house of representatives to approve it in a quick fashion so that the government is able to perform its duties.

The proposed budget was divided into five sections, with the largest sum of 33 billion going to state salaries, followed by subsides at 24 billion, closely trailed by projects and development at 22 billion and the remaining 17 billion was split between operational spending at 12 billion and an emergency budget at 5 billion.

The primary source for the yet-to-be approved budget is Libya’s oil and gas sector, the country’s principal source of income, with oil revenues comprising 89 billion of the overall budget, and just 4 billion be provided by non-oil related revenues.