Cental Bank Allocates $3.4bn to GNA

By Adam Nathan.

The Central Bank of Libya (CBL) has deposited LD 4.8 billion ($3.4 billion) to the Presidency Council / Government of National Accord (GNA) to cover the budget ('Temporary Financial Arrangement') for the first quarter of the year.

While LD 3.5 billion of this is to be used to pay state salaries, Economics and Finance Ministers have said that there has been a considerable reduction in the payment of duplicate salaries.

For Q2 they will look at reducing subsidies, which account for LD 650 million in Q1, to make more funding available for infrastructure projects.

(Source: Libya Herald)

2 Responses to Cental Bank Allocates $3.4bn to GNA

  1. Dr Satya P.Bindra 24th January 2017 at 6:04 pm #

    UNCSD Future We Want hails The Central Bank of Libya (CBL) for having deposited LD 4.8 billion ($3.4 billion) to the Presidency Council / Government of National Accord (GNA) to cover the budget (‘Temporary Financial Arrangement’) for the first quarter of the year. Hopefully it would help to reduce suffering poverty, hunger, disease, extreme cold and darkness with cash unobtainable frosm banks.

  2. Khalid M.Rehman 26th January 2017 at 11:31 am #

    It is very encouraging news for the Libyans.
    People are suffering from many shortages and necessities of life.

Leave a Reply