Tripoli – The United Nations Support Mission in Libya (UNSMIL) welcomed the signing of Annex No. 1 to the Unified Development Program Agreement in the capital, Tripoli. UNSMIL called for strict oversight of public spending across Libya. It also urged effective economic governance.
In a statement today, the mission said this agreement marks significant progress. It addresses the urgent need to enhance discipline in public spending management. It promotes greater financial coherence and accountability nationwide. This requires a similar strong commitment to ensure effective implementation. The agreement also offers an opportunity to improve governance in the hydrocarbon sector. This could lead to increased productivity and enhanced investor confidence.
The mission noted that this annex adopts a unified spending framework for 2026. This aligns with yesterday’s announcement by the Central Bank of Libya. The framework covers the four chapters of the state’s general budget. These include salaries, government operations, development projects, and subsidies. It also includes operational allocations for the National Oil Corporation. Measures to boost its production are also part of the agreement.
In its statement, the mission urged all signatory parties to ensure the agreement’s implementation. They must facilitate strict oversight of public spending across Libya. This oversight should comply with international standards and relevant Libyan legislation.
The mission also called on authorities to unify and strengthen independent and effective oversight institutions. This will ensure the unified spending framework delivers tangible benefits for all Libyans. It demanded transparent and accountable management and disclosure of oil revenues. This should support public spending. It will ensure national resources are allocated fairly. This allocation must serve the public interest throughout Libya.
UNSMIL reiterated that protecting Libya’s public resources is vital. Promoting unified and transparent economic governance is also indispensable. These actions are crucial for enhancing stability. They will restore citizens’ trust in the management of state institutions.
The statement affirmed UNSMIL’s commitment to supporting a Libyan-led and owned political process. This includes efforts to unify institutions and advance economic reforms. It also encompasses the fair distribution of national wealth. This wealth must be preserved for the benefit of all citizens.