H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, Meets with the Chairman and Members of Finance Committee of House of Representatives on Tuesday, 4th of February 2025. The discussions focused on the mechanism for government spending in 2025 and its unification, with an emphasis on ensuring the regular payment of salaries in accordance with the letter from the Chairman of Finance Committee addressed to the Chair of the House of Representatives. This will continue until reforms are approved and actual expenditure for 2025 is determined at the beginning of April. Additionally, the meeting covered the overall financial and economic situation, particularly the impact of public spending on increasing demand for foreign currency, pressures on the exchange rate, and foreign currency reserves.

The Chairman of Finance Committee reaffirmed his support for the measures taken by the Central Bank of Libya in collaboration with relevant Libyan ministries and institutions, including the Audit Bureau, the Office of the Attorney General, the National Oil Corporation, and the Ministry of Economy. In particular, he highlighted the importance of ensuring the regular flow of oil revenues and regulating import activities exclusively through approved banking instruments.

Further, the members of the Finance Committee expressed their support for the Central Bank of Libya’s efforts, emphasizing their commitment to holding successive meetings to further these objectives.