The UAE and 9 countries welcome the signing of a unified budget for Libya for the year 2026

The governments of the United Arab Emirates, the United States of America, the Arab Republic of Egypt, the French Republic, the Federal Republic of Germany, the Italian Republic, the State of Qatar, the Kingdom of Saudi Arabia, the Republic of Turkey, and the United Kingdom issued the following statement:

The United Arab Emirates, the Arab Republic of Egypt, the French Republic, the Federal Republic of Germany, the Italian Republic, the State of Qatar, the Kingdom of Saudi Arabia, the Republic of Turkey, the United Kingdom, and the United States of America welcomed the signing of a unified budget for Libya for the year 2026 on April 11, which is the first Libyan national budget in more than a decade and represents an essential step to enhance economic coordination between Libyan leaders in the West and the East.

The countries praised the constructive approach in reaching this agreement, which would consolidate unity, stability and prosperity in Libya.

The countries affirmed that the full implementation of the unified budget will help enhance the financial stability of Libya, preserve the value of the dinar and the purchasing power of the Libyan people, enable the implementation of development projects and international investments throughout the country, and strengthen the vital technocratic institutions in Libya, including the Central Bank of Libya, the National Oil Corporation, and the Audit Bureau.

The countries indicated that the unified budget includes the first operating budget for the National Oil Corporation in years and funding aimed at increasing energy production, as well as oversight provisions to ensure the effective use of these funds. The increase in oil and gas production will increase the prosperity of the Libyan people and their international partners and will contribute to supporting energy security at the regional and global levels.

The countries reaffirmed their support for the United Nations Support Mission in Libya and the roadmap prepared by the Special Representative of the Secretary-General of the United Nations, Hannah Tetteh, and the countries urged all parties concerned to benefit from this roadmap and the mediation undertaken by the mission to advance a Libyan-led political process that leads to unified governing institutions and the holding of national elections. Economic integration will strengthen and complement the political path… It is in all of our interests for a strong and prosperous Libya with economic, military and political institutions. Unified…