Lana News
Libyan News Agency
Latest News
LANA A sharp rise in the dollar exchange rate on the parallel currency market in Libya.
LANA Libya participates in the activities of the Pan-African Youth Leadership Conference in Addis Ababa.
LANA Hanna Tetteh meets with members of the Libyan Parties League
LANA The unity government comments on the Central Bank's statement: "Parallel spending" is a direct cause of the erosion of the dinar's value.
LANA The House of Representatives participates in the opening ceremony of the 150th General Assembly of the Inter-Parliamentary Union.
LANA Statement of the Government of National Unity on comparing parallel spending with development aspects and details of public expenditures
LANA The President of the Presidential Council meets with the Acting Minister of Foreign Affairs and International Cooperation.
LANA Tetteh meets with Greek ambassador.
LANA Tetteh meets with the Egyptian Ambassador.
LANA UN envoy calls on Libyan political leaders to embrace the spirit of Eid.

Statement of the Government of National Unity on comparing parallel spending with development aspects and details of public expenditures

Pulbished on:

Tripoli - April 6, 2025 (LANA) - The Government of National Unity confirmed on Sunday that the parallel government's parallel spending, which occurred outside of official financial arrangements, in 2024 amounted to 59 billion Libyan dinars. This is equivalent to five times the budget allocated for general development, which did not exceed 12 billion dinars.

In a statement comparing parallel spending to development aspects and detailing public expenditures, the Government explained that this spending occurred without consulting state institutions and oversight bodies, leading to repercussions on the national economy, including the depletion of cash reserves, an increase in public debt, a decline in the value of the Libyan dinar, a significant increase in prices, and a worsening of citizens' living conditions.

The Government of National Unity stated that, while presenting these facts to the Libyan people, it reiterates its call for the unification of financial institutions and for them to operate under the umbrella of the state to ensure transparency and fairness in the distribution of resources and to protect the country's economic stability.