The Central Bank of Libya (CBL) reported today that its Governor, Naji Issa, held a meeting today at his office with the Minister of Finance, Rashid Abughfa, and the Head of the Audit Bureau, Khaled Shakshak.
Implementation of the economic reform package
The CBL said the meeting took place within the framework of enhancing coordination and integration among state institutions and monitoring the implementation of the economic reform package related to monetary, fiscal, and trade policies.
The meeting addressed several priority issues, foremost among them the unified salary scale and the implementation of the "Ratibak Lahzati" (Instant Salary) system. These measures aim to organize salary administration, enhance transparency, and improve the efficiency of public expenditure management.
Unify and control public spending
Discussions also covered efforts to unify and control public spending and to strengthen coordination among relevant entities, ensuring the optimal use of public resources and supporting efforts to achieve fiscal discipline and sustainability.
Furthermore, the meeting addressed the monitoring of oil and non-oil revenues, as well as mechanisms to improve collection efficiency and track revenue flows. These measures are intended to support financial and monetary stability and enhance the state's capacity to manage its resources efficiently and transparently.
Continued coordination needed between all stakeholders
The CBL said the attendees emphasized the importance of continued coordination between the Central Bank of Libya, the Ministry of Finance, and the Audit Bureau—as well as all state institutions and relevant stakeholders—and the need for joint action to complete and implement the targeted reforms.
Such efforts aim to control public spending, boost revenues, and support economic and financial stability.
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