Libya Approves First Unified Budget in Over 13 Years

Libya has approved its first unified national budget in more than 13 years, marking a significant breakthrough in efforts to restore financial stability and reduce institutional division.

The announcement was made by the Central Bank of Libya, which confirmed that the budget was endorsed by both the eastern-based House of Representatives and the western-based High Council of State. The agreement represents a rare moment of alignment between Libya’s rival political bodies and is widely seen as a step toward unifying the country’s financial governance.

The unified budget is expected to strengthen fiscal coordination and address years of parallel spending that have complicated economic management across the country. Since Libya’s political split, competing authorities in the east and west have operated separate financial systems, contributing to inefficiencies, lack of transparency, and growing economic challenges.

Governor Naji Issa, who oversaw the signing ceremony in Tripoli, described the agreement as a clear signal that Libya can overcome divisions when there is a shared vision for the future. He emphasized that unifying the budget is a critical step toward improving financial discipline and restoring confidence in state institutions.