Libya approves first unified state budget in 13 years

Libya’s rival eastern and western legislative bodies have signed a US-mediated agreement to unify public spending across the divided country in a first since 2013, the central bank said Saturday.

“This step reflects real progress toward unifying fiscal policy and strengthening the good management of public spending,” the bank announced, saying the agreement was “the first consensus on unified spending across Libya in over 13 years”.

Libya has struggled to recover from the chaos that erupted following the 2011 Arab Spring uprising and has been divided between a UN-recognised government based in Tripoli and an eastern administration.