Mittwoch, 6. März 2013

Budget for Libya 2013

Of last year´s budget, nearly 10 billion Dinars (6 billion Euros) were not spent. They were given back to the Central Bank where they await further use. In the meantime 2013´s budget is just on the edge of being aproved. This would be really great news then many state owned institutions are waiting for the budget to be allocated in order to to their long awaited orders and contracts. But is it really? The events of the last two days, where "Thuars" and wounded from the Revolution stormed the General National Congress, delayed the process. During the session where the budget was about to be approved, the Congress was stormed. The GNC then decided to move to Tajura, some 20kms away from Tripoli, in order to being able to continue their session. But you know what ? The "Thuars" followed them there and stormed the session another time. The next day they moved to another area (Krimea), where the session was also not friction free.
Lets hope for a a budget within the next few days, it would give a lot of impetus to all economic activity in the country.
Comment from a reader yesterday (thanks Tameem): The budget surplus was even 36 bn LD, which is 20 billion Euros.


  1. 10 billion Dinars should be also some 6 Billion Euros....I mean, 6 million Euros is also a lot of money for most of us, but not really for the budget....

  2. Oh, 10 billion Dinars or even 20 billion Dinars... important is: the Libyans will get organized and to say it with an English idiom: get the ass in gear to build up the country! It's about high time now!