GNA approves 48 billion LYD budget for 2020

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GNA approves 48 billion LYD budget for 2020

October 19, 2019 - 14:47
Written by: SafaAlharathy

Libya's budget for 2020 is estimated at just under 48 billion Libyan dinars, about 34 billion dollars, the Ministry of Economy and Industry has disclosed.

According to Reuters, the budget will be ready in December and will come into operation at the beginning of the year, confirming that it will be balanced with no deficit and no public debt.

The ministry added in a statement that the imbalances would be addressed within the budget itself without recourse to borrowing, pointing out that the attack on Tripoli has had a significant and negative impact on the economic reforms since the outbreak of fighting, last April.