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🛒 تسوق الآنAl-Dabaiba Reaffirms Libya's Unified Development and Financial Agreement Remains on Track
Al-Dabaiba Reaffirms Libya's Unified Development and Financial Agreement Remains on Track
PM insists historic LD 167.36 billion unified budget—first in 13 years—will not be derailed by attempts to undermine it
Libya's Prime Minister Abdul Hamid Al-Dabaiba has reaffirmed that the unified developmental and financial agreement, which produced the country's first consolidated national budget in over a decade, remains fully in effect despite attempts to cast doubt and disrupt its implementation.
Speaking during the fourth regular cabinet meeting of 2026, held in the city of Zliten east of Tripoli, Al-Dabaiba stressed that the landmark agreement is proceeding as planned and that efforts to undermine public confidence will not succeed, according to Libyan media reports.
A Historic Breakthrough After 13 Years of Division
The unified financial and development agreement represents a pivotal moment in Libya's economic recovery. Approved in May 2026, it marked the first time in 13 years that Libya adopted a single national budget, consolidating public finances that had been split between rival administrations in the east and west.
The agreement was reached after seven months of intensive negotiations through the (2+2) committee framework, bringing together key financial and political stakeholders from across the country. The LD 167.36 billion budget allocates funds across four chapters: LD 73.36 billion for salaries, LD 10 billion for operational expenditures, LD 44 billion for subsidies, and LD 40 billion for development projects spanning electricity, education, healthcare, and infrastructure.
Key Pillars of the Unified Agreement
Al-Dabaiba outlined several structural reforms embedded within the agreement during earlier cabinet sessions. These include the unification of all state revenues into a single treasury account at the Central Bank of Libya, designed to eliminate parallel spending and enhance fiscal transparency.
The agreement also mandates that the National Oil Corporation undergo independent external audits conducted by international firms, with its allocations presented as loan financing. This represents a significant step toward transparent management of Libya's primary revenue source.
- Single wage system: A unified payroll to eliminate duplication and ghost workers
- Development chapter: LD 40 billion allocated for infrastructure, electricity, education, and health
- Oversight mechanisms: A joint committee to monitor implementation with monthly reporting requirements
- Revenue unification: All state revenues deposited into a single Central Bank account
- Anti-corruption measures: Tightened financial controls and independent audits of state institutions
Resisting Attempts to Undermine the Agreement
In his remarks from Zliten, Al-Dabaiba explicitly addressed attempts to "cast doubt or disrupt the path" of the unified financial agreement. The Prime Minister emphasized that the consensus reached after months of painstaking negotiations would not be derailed by political maneuvering or misinformation campaigns.
Libya has experienced financial fragmentation since 2011, with rival governments in Tripoli and eastern Libya operating separate budgets, central banks, and fiscal policies. The unified agreement represents the most significant attempt at economic reunification since the establishment of the Government of National Unity in 2021.
Economic Implications for Libyan Citizens
The primary goal of the agreement, according to Al-Dabaiba, is to improve the living standards of ordinary Libyans. By stabilizing the national currency, controlling inflation, and ensuring equitable distribution of development projects across all regions, the agreement aims to restore confidence in Libya's economy.
The LD 40 billion development chapter focuses on critical infrastructure, including upgrades to the electricity grid which has suffered from chronic outages, expansion of healthcare facilities, and investment in education. All projects will be presented in a unified schedule covering all executive bodies and funds.
Regional Context and International Support
The unified financial agreement has drawn attention from international observers who view it as a critical test of the Government of National Unity's ability to deliver economic stability and institutional reform. The United Nations Support Mission in Libya has previously called for unified economic governance as a prerequisite for lasting peace.
The agreement's success could pave the way for further international investment and unlock development assistance contingent on Libya demonstrating fiscal responsibility and unified economic management.
— Libya Press / News Desk
