Libya Adopts 1st Unified National Budget in Over a Decade

In a significant development that could reshape Libya’s fractured financial landscape, the country has approved its first unified national budget in more than 13 years, according to an announcement by the Central Bank of Libya.

The agreement was reached between the country’s rival legislative bodies, the House of Representatives and the High Council of State, both of which have been operating under separate political and institutional frameworks since the outbreak of civil conflict in 2014.

Libya, a major oil-producing nation, has remained politically divided for over a decade, with parallel governments in the east and west competing for authority. The last time the country succeeded in passing a single national budget was in 2013, before the escalation of internal conflict that reshaped its governance structure.

According to the Central Bank, the approval of the unified budget represents a crucial step toward improving financial stability and restoring coordination between competing institutions. Officials described the move as a potential turning point in efforts to reduce economic fragmentation and strengthen national fiscal management.

The agreement was formally signed by representatives from both sides: Issa Al-Araibi, representing the House of Representatives based in Benghazi, and Abdul Jalil Al-Shawash, representing the High Council of State in Tripoli, where the internationally recognized Government of National Unity is headquartered.

The signing ceremony was overseen by Central Bank Governor Naji Issa, who described the agreement as a “clear declaration that Libya is capable of overcoming its differences when a unified vision for the future is present.”

Analysts say the deal could help stabilize public spending, improve transparency in state finances, and potentially unlock delayed development projects. However, they also caution that deep political divisions remain unresolved, and sustained cooperation will be required to ensure implementation.

Still, the adoption of a unified budget is being viewed as one of the most meaningful signs of institutional coordination in years, offering a rare moment of convergence in a country long defined by political fragmentation.