The Speaker of the House of Representatives calls for an urgent economic plan and the preparation of a unified budget for the coming year.

Sabha, November 2, 2026 (LANA) – The Speaker of the House of Representatives, Al-Salihin Abdul-Nabi, has called on the House’s specialized committees to expedite the assessment of the country’s requirements for essential goods and necessary supplies. This effort is intended to lay the groundwork for an economic plan aimed at addressing the current crisis and alleviating the cost-of-living burden on citizens.

During a session of the House of Representatives held in the city of Sabha this Monday, Abdul-Nabi announced that Libyan experts in the fields of finance, economics, oil, and banking have been invited to meet at the House’s headquarters in Benghazi next Wednesday, November 4. The meeting will focus on discussing proposals that include urgent, medium-term, and long-term measures to rectify economic imbalances.

He requested that the relevant committees provide comprehensive data on the country’s needs regarding medicines, food supplies, animal feed, industrial inputs, and fuel. He noted that while the Energy Committee has already submitted its assessment of fuel requirements, other committees had yet to provide the requested data by the time the session took place.

The Speaker of the House emphasized the necessity of preparing a unified budget for the coming year before the end of the current year, ensuring it can be approved and implemented by the start of the new year. He underscored the importance of controlling public expenditure—specifically by defining allocations for salaries (under the first category of the budget)—and reviewing subsidy expenditures to ensure they are directed toward the country’s actual needs.

Furthermore, he called for the preparation of an "import budget"—to be incorporated into the budget law—that outlines Libya’s requirements for goods and materials that must be sourced from abroad. This measure is intended to help regulate import operations and align them with national priorities. Abdelnabi emphasized that addressing the economic situation requires cooperation between parliamentary committees and experts or specialists, while prioritizing the public interest and the needs of citizens—especially in light of the repercussions stemming from the rising exchange rate and the increasing cost of living.

...(LANA)...