Prime Minister of the Government of National Unity, Abdul Hamid Dbeibah, held a meeting on Wednesday with the Governor of the Central Bank of Libya, Naji Issa, to discuss developments in the country's general economic and financial situation.
The meeting, held at the Prime Minister's Office, discussed the implications of public spending on the stability of the local economy and its direct impact on the strength of the Libyan dinar, amid growing calls for practical steps toward comprehensive reform of fiscal and monetary policies.
In this context, the Central Bank Governor stressed the importance of accelerating the implementation of a package of economic reforms aimed at raising citizens' living standards and achieving financial stability. He noted that oil revenues have seen a significant improvement this week, which enhances the chances of implementing these reforms within a short period.
For his part, the Prime Minister expressed his appreciation for the Central Bank's initiative to reveal, for the first time, the actual figures on public spending, describing this step as a positive shift towards financial transparency and affirming his government's commitment to supporting the bank's efforts in this direction.
In a significant development, Dbeibah announced during the meeting that the government had effectively begun implementing a new mechanism for importing fuel, moving away from the previously used exchange system. He emphasized that this decision falls within the framework of the state's efforts to reform the fuel sector and ensure its sustainable supply. He also called on all relevant parties to cooperate to ensure the success of this new mechanism and achieve stability in this vital sector.
The meeting concluded with an agreement to coordinate efforts between the government and the Central Bank to ensure the disbursement of April salaries early next week. The meeting also emphasized the need to implement comprehensive reforms encompassing fiscal, monetary, and trade policies, ensuring improved sovereign revenues for the state, supporting the stability of the Libyan dinar exchange rate, and enhancing long-term financial sustainability.
The meeting was attended by the Minister of Transport and Financial Advisor to the Prime Minister, Mohammed Al-Shahoubi, the Undersecretary of the Ministry of Economy and Trade, Suhail Boushiha, and the Chairman of the National Council for Economic and Social Development, Mahmoud Al-Futaisi.
The Central Bank of Libya was represented by the Director of the Banking and Monetary Control Department, Abdul Majeed Al-Maqouri, the Director of the Research and Statistics Department, Ali Abu Salah, the Deputy Director of the Department, Osama Al-Jilani, in addition to the Director of the Banking Operations Department, Ashraf Abu Ras.