Libya's National Transitional Council (NTC) has approved the long awaited budget for 2012 on Sunday. The total amount of the budget is LD68,525,604,750.00.
The NTC spokesman Mohammed al-Harizi told the Libyan news agency said the NTC’s approval of the budget included recommendations directed to the government relating to the spending procedures and financial oversight.
He said the NTC is to announce full details of the budget Monday.
The approval of this year’s budget will start the huge rebuilding process in Libya and launch what is expected to be a feverish business and economic activity in the country.
On Saturday the chairman of the NTC Mustafa Abdul Jalil said the approval of the budget would indicate that the NTC is quiet supportive of the interim government of Mr. Abdurrahim El-Keeb and to enable it to meet the demands and expectations of the people.
(Source: Tripoli Post)