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Al Habri: Public spending must be reviewed and controlled.

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 Benghazi, 23 January 2022 (Lana) The Deputy governor of the Central Bank of Libya, Ali Al Habri revealed that the cash reserves spent since 2011 amounted to 50%, citing this erosion in the reserves for wars, political conflict and government deficits in the general budget, which means a lack of development for a longer period.

 Al Habri stressed, in a statement to Lana correspondent need to maintain the remaining reserves to overcome any negative effects reflected on the Libyan economy, saying this will only be achieved by diversifying the economy as a strategic goal of medium-term planning, reconsidering public spending, especially the unjustified, to control it, review of public functions which have reached (35) % of the population, and the review of quality taxes. It is not reasonable to pay about (34) billion dinars salaries and in return tax (zero).

To prevent a slide that threatens the local economy, Al- Habri said that the only way is to call on the government and the House of Representatives to speed up the issuance of medium-term budgets from (3 to 5) years, for which virtual prices will be placed for the oil sector, so that any future benefits are controlled and directed towards development and change, support for the private sector, support for small and medium-sized enterprises and other pillars of building an economy capable of standing on its feet."

=Lana=