US Embassy Welcomes Signing of Unified Budget by Libya's Split Administrations

The United States Embassy in Libya has lauded the recent signing of a Unified Development Programme, also referred to as a Unified Budget, by the nation's politically divided administrations. This landmark achievement, the first of its kind in over thirteen years, is seen as a significant step towards peace and national unity, facilitated by months of American diplomatic engagement within a broader roadmap.

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Libya on signing a unified national budget for the first time in more than 13 years, following months of American mediation within a broader roadmap toward peace and the achievement of national unity.

This agreement represents a crucial compromise by the parties from both western and eastern Libya, who have set aside their differences to prioritize the country's stability. The signing is expected to safeguard the financial stability of Libya, preserve the value of the Libyan dinar, and protect the purchasing power of its citizens. Furthermore, it aims to strengthen the resilience of the Central Bank of Libya, a vital institution for the nation's economic health.

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The concerned parties from both the west and east have set aside their differences and accepted compromises for the sake of their country, thereby defending financial stability, the value of the Libyan dinar, and the purchasing power of the Libyan people, while bolstering the resilience of the Central Bank of Libya.

The Unified Budget is poised to stimulate development projects across the entire country. Critically, it ensures adequate funding for the National Oil Corporation, enabling it to ramp up energy production and boost national revenues. This, in turn, is anticipated to elevate the prosperity of the Libyan people and benefit their international partners.

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Moreover, this new budget will support development projects across the country and ensure funding for the National Oil Corporation so it can increase energy production and revenues, thereby elevating the prosperity of the Libyan people and their international partners.

The United States has reiterated its unwavering commitment to supporting Libya's journey towards unity and lasting peace. The successful budget talks serve as a testament to the effectiveness of US diplomatic efforts. Washington pledges to continue backing Libyan endeavors to unify economic, military, and political institutions, thereby creating the necessary conditions for successful national elections, guided by the United Nations Support Mission in Libya and the roadmap laid out by the UN Secretary-General's Special Representative.

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The United States will remain at the forefront of diplomatic efforts aimed at achieving unity and lasting peace in Libya, as exemplified by the successful budget talks that led to this landmark achievement.