Speaking at today’s Cabinet meeting held in the coastal city of Qaser Al-Akhyar, about 75 kms east of Tripoli, Prime Minister Abd Alhamid Aldabaiba revealed Libya’s new unified 2026 budget:
The 2026 unified budget totals LD 167.36 billion.
Chapter 1: LD 73.36 bn – salaries
Chapter 2: LD 10 bn – operational
Chapter 3: LD 44 bn – subsidies
Chapter 4: LD 40 bn – development projects
Speaking at today’s Cabinet meeting, Aldabaiba said:
– What concerns us is alleviating the suffering of the citizens who have borne the burdens of division and paid the price of years of spending.
– Our responsibility today is to put an end to this suffering and to direct all resources towards improving people’s lives.
– Our shared responsibility compels us to find solutions, forge consensus, and resolve differences.
– Development projects are the right of all Libyans, east, west, and south.
– Projects must be within the state’s financial capacity and not at the expense of the citizens.
– The commitment of all parties to implementing the (US-brokered) Unified Development Agreement will lead to an improvement in citizens’ living standards.
– We extend our sincere thanks to the US Treasury Department and Advisor Paul for reaching this agreement with us.
– We thank the 2+2 team and all parties, east, west, and south, for prioritizing the interests of the nation and its citizens.
– Salaries will be disbursed through a single budget line item totalling 73.36 billion dinars, contingent upon the implementation of structural reforms, linking disbursements to a unified system, and eliminating duplication.
– Operating expenses amount to 10 billion dinars
– Subsidies total 44 billion dinars.
– Development spending is approximately 40 billion dinars, forming the basis of this unified development agreement.
– All projects are presented in a single table with figures for all executive bodies and funds.
– Central spending included within development encompasses electricity, textbooks, students abroad, passports, and faculty bonuses.
