Ministries of Economy and Planning discuss the draft indicative import budget for 2026

‎The Tripoli based Libyan government announced today that Minister of Economy and Trade, Mohamed Al-Hwej, and the Acting Minister of Planning, Mohammed Al-Zeidani, held a meeting to discuss the draft import indicative budget for 2026, in the presence of the undersecretaries of the ‎‎ministries and directors concerned with trade and planning files.‎

‎The meeting dealt with the mechanisms of regulating imports according to the priorities of the national economy in accordance with the Commercial Law, and aims to achieve price stability and control the demand for foreign currency, while supporting local production and national industries.‎

‎The Minister of Planning referred to the results of a comprehensive national survey carried out by the Statistics and Census Department, which clarifies the conditions of households and the consumption patterns of basic goods and services, and is considered a reference for formulating public policies and supporting financial and economic planning.‎

‎The Undersecretary of the Ministry of Economy, Suhail Abu Shiha, stressed the importance of cooperation with the Ministry of Planning to ensure the transparency and efficiency of the import department, and to rely on official data as a basis for formulating economic policies.‎

‎The meeting concluded by confirming the completion of the project within the specified timetable, in coordination with the concerned authorities and the Central Bank of Libya, to enhance economic and food security.‎

Background
It will be recalled that the meeting comes on the back of several recent meetings by the Economy Ministry, the Prime Minister and the Central Bank of Libya. These come with the background of global prices of a barrel of oil (Brent Crude) falling to US$ 55, negatively affecting the Libyan state’s main revenue, the Libyan dinar on the black-market at one stage last Wednesday falling to LD 8.40 per US$, putting further pressure on rising commodity prices, and the continuing cash crisis at Libyan banks.

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