Libya aims for zero deficit in 2018 budget
The governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabeer said the country would have a zero deficit rate in 2018 budget. “Libyan dinar has healed a bit in the parallel market against foreign currencies. We hope its exchange rates will gain more in the coming weeks.”
Al-Siddiq Al-Kabeer, the Chairman of National Oil Corporation Mustafa Sanallah and UK’s ambassador to Libya Frank Baker, and other stakeholders attended LBBC in Tunisia this week. Al-Kabeer said that there has been a delay in allowing the personal, study and treatment money transfers to work in the commercial banks, adding that he and the banks’ administrations had agreed to speed the process in the coming weeks.
“Letters of credit and goods importation transactions are going smoothly after evaluation of the CBL despite discrepancies after the stealing of a vital system, which will be retrieved soon.” Al-Kabeer explained.
He indicated that the next months will see some efforts aimed at boosting the economy of the country, including supporting the electricity company, national oil cooperation (NOC) and the rest of the vital institutions. “We will meet with the NOC next Sunday to see through its necessities for the rest of this year and next year so it can work comfortably.” Al-Kabeer further added.
Meanwhile Italian Deputy Foreign Minister Emanuela Claudia Del Re arrived in Tripoli on Monday heading a high-level government delegation.
Upon her arrival, she held talks with Libyan Foreign Minister Mohammed Sayala on both countries’ relations. She also extended an official invitation to Sayala to attend Palermo Conference on Libya, slated for next November 12-13.