Doha: The State of Qatar, the Kingdom of Saudi Arabia, the Arab Republic of Egypt, the French Republic, the Federal Republic of Germany, the Italian Republic, the Republic of Turkiye, the United Arab Emirates, the United Kingdom, and the United States of America welcomed the signing on April 11 of a unified 2026 budget for Libya, the first Libyan national budget in over a decade and a critical step to increase economic coordination between western and eastern Libyan leaders.
In a joint statement, the countries applauded the constructive approach to reach this agreement, which has the potential to foster increased unity, stability, and prosperity for Libya.
They affirmed that full implementation of the unified budget will help advance Libya's financial stability, defend the value of the dinar and the Libyan people's purchasing power, enable the implementation of development projects and international investment across Libya, and strengthen Libya's vital technocratic institutions, including the Central Bank of Libya, National Oil Corporation, and Libyan Audit Bureau.
The statement added that the unified budget includes the National Oil Corporation's first operational budget in years and financing to increase energy production, as well as oversight provisions to ensure these funds are used effectively. Increased oil and gas production will drive greater prosperity for the Libyan people and their international partners and contribute to regional and global energy security.
The countries also reaffirmed their support for the United Nations Support Mission in Libya (UNSMIL) and the roadmap developed by the UN Special Representative of the Secretary-General, Hanna Tetteh, urging all stakeholders to use this roadmap and UNSMIL facilitation to advance a Libyan-led political process leading to unified governance and national elections. They added that increased economic integration will complement and strengthen the political process, stressing that a strong and prosperous Libya, with unified economic, military, and political institutions is in the interest of all. (QNA)
