2021 budget of LD 96 billion proposed by GNU to parliament

By Sami Zaptia.

The GNU has proposed a LD 96 billion 2021 budget (Photo: Sami Zaptia).

London, 21 March 2021:

Prime Minister Abd Alhamid Aldabaiba’s Government of National Unity has revealed that it has proposed a budget of LD 96 billion to parliament.

The five sections of the budget are:

  1. State-sector salaries – LD 33 bn
  2. Operational spending – LD 12 bn
  3. Projects and Development – LD 22 bn
  4. Subsidies – 24 bn
  5. Emergency budget – 5 bn

The projected sources for this budget are:

  • Oil and gas revenues – 89 bn
  • Non-oil revenues – 3.9 bn

 

Criticism of expanded budget

The expanded budget has come in for criticism. For example, some critics believe it wrong to be setting a budget of nearly LD 100 billion in the absence of real state institutions, the lack of adequate oversight, and the lack of accountability of the former administration and those accused/suspected of corruption.

They feel that having a large budget in such circumstances for a government of nine months will only encourage and enshrine further corruption.

They believe that a government which plans to handover at the 24 December elections has no time for medium or long-term development, construction or reconstruction projects.

The view is that the GNU should be realistic and concentrated its efforts effectively by acting as a short-term, crisis management government concentrating on preparing for elections, fighting the pandemic, solving the electricity crisis and maybe the cash crises.

 

GNU presents draft 2021 budget to High State Council and parliament | (libyaherald.com)

You must be logged in to post a comment Login