Amended budget submitted to parliament, session scheduled to discuss it for this Monday

After the after budget proposal by the GNU was rejected, the Government submitted an amended version of the national budget and parliament is expected to discuss it tomorrow in Tobruk

The initial budget was rejected for a multitude of reasons, primarily it being far too large a budget when considering the GNU’s temporary time in office. [Photo: Getty Images]
After its first budget proposal was rejected, the Government of National Unity (GNU) sent a revised budget to the Libyan Parliament. 

The overall amount of the revised budget is now 93 billion and 878 million dinars, according to information gathered by Libyan media sources.

The total sum of funds in Chapter One, which included wages and other expenses, was 34,674,716,450 dinars. The funds for Chapter Two are for administration, facilities, and operations, totaling 12,603,307,400 dinars, while Chapter Three funds are for construction projects and services, totaling 20 billion dinars.

Support expenditures were allocated 22,600.000,000 dinars in Chapter Four, while emergency expenditures were estimated to be about 4 billion dinars in Chapter Five.

Oil revenues are forecast to bring in 89,300,000,000 dinars, while the budget’s sovereign revenues and processing fees come from six sources, the most important of which are taxes, which will bring in 1,200,000,000 dinars, and customs revenues, which will bring in 300 million dinars.

The budget also allocated 450 million dinars for communications, 300 million dinars for income at the Libyan Central Bank, 330 million dinars for revenues from selling fuel on the local market, and 474,923,000 dinars for service fees and other revenues.

Libya’s House of Representatives (HoR) declared late last week that an official session will be held in Tobruk tomorrow, Monday, to discuss the draft budget for 2021 and the country’s sovereign positions.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
Azara Media Azara Media
You might also like

Submit a Correction

For: Amended budget submitted to parliament, session scheduled to discuss it for this Monday

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.