Unified budget moves into implementation
Libya – Fathi Al-Shibli, head of the Voice of the Libyan People Party, said the unified budget has entered the implementation phase, noting that the Central Bank of Libya is managing revenues and spending within a unified framework aimed at ending the dual spending tracks in the east and west.
Oil revenues are sovereign — no announced geographic split
Al-Shibli told Erem News that oil revenues remain sovereign revenues of the Libyan state, stressing that there is no officially announced percentage dividing oil geographically between the east, west and south.
He noted that development allocations amount to about 40 billion dinars and cover projects in various regions, including projects in the east, pointing out that there is no separate official share announced in the name of Osama Hammad’s government.
The test of the understanding in unifying public finances
He stressed that the essence of the understanding is, in his view, that the east obtained a guarantee that development projects would be included, and the west obtained the unification of finances and spending, asking whether the agreement would in practice turn into one central bank, one budget, one set of revenues and one spending track — which he considered the real test of the deal.
