Talks underway to unify state budget, split oil revenues across Libya

Talks underway to unify state budget, split oil revenues across Libya

September 28, 2020 - 22:01
Posted in:
Written By: AbdulkaderAssad

The New Arab newspaper reported Libyan Central Bank board of directors' member Emraje Ghaith as saying that discussions are underway to unify state budget between the Government of National Accord and Interim Government in eastern Libya, in what can be described as the first talks between the two rivals since 2015.

Ghaith said unifying the budget is part of the deal to reume oil production in order to split oil revenues equally across Libya, saying that state institutions are preparing outlines for their 2021 expenditures so the budget can be finalized.

He also said that it is proposed that the GNA in Tripoli gets 60% of the budget and the rest goes to the east-based Interim Government, adding that the issue is still under discussion.

The Libyan National Oil Corporation lifted force majeure on exports from three "secure" oil ports: Zueitina, Hariga and Brega, excluding Essider and Ras Lanuf ports as foreign mercenaries of Haftar's forces are still there.