Decision 871/2023: Transfer of 2021 Financial Balances for Certain Entities

The Council of Ministers authorized the transfer of unspent 2021 fiscal year balances to three ministries (Water Resources, Agriculture and Livestock, and Industry and Minerals) for completion during fiscal year 2022. The Ministry of Planning is directed to issue non-liquid financial authorizations for these transferred amounts.

This decision is purely administrative, addressing internal government budget irregularities from 2021-2022. It has no direct commercial impact on foreign investors or companies. However, it signals continued dysfunction in Libya's budget execution and financial management systems—funds allocated in 2021 remain unspent in late 2023, indicating persistent capacity constraints in project implementation. Foreign contractors in water, agriculture, and industrial sectors should note the government's ongoing inability to execute budgeted projects on schedule.