RIYADH: Saudi Arabia and several other countries have welcomed Libya’s approval of a unified national budget for 2026, marking the first such agreement in more than a decade.
The budget, signed on April 11, represents a significant step toward strengthening economic coordination between Libya’s western and eastern leadership, according to a joint statement issued on Sunday by Saudi Arabia, Qatar, the United States, Turkiye, the United Arab Emirates, the United Kingdom, Egypt, France, Germany, and Italy.
“We applaud their constructive approach to reach this agreement, which has the potential to foster increased unity, stability, and prosperity for Libya,” they said in a joint statement on Sunday.
This is the first Libyan national budget in over a decade and represents a crucial step toward strengthening economic coordination between Libyan leaders in the west and east.
#Statement | The Kingdom of Saudi Arabia, the Arab Republic of Egypt, the French Republic, the Federal Republic of Germany, the Italian Republic, the State of Qatar, the Republic of Türkiye, the United Arab Emirates, the United Kingdom, and the United States of America welcome… pic.twitter.com/t46uIh4vs7
— Foreign Ministry 🇸🇦 (@KSAmofaEN) April 19, 2026
The countries commended the constructive approach taken in reaching this agreement, which will contribute to unity, stability, and prosperity in Libya.
They affirmed that the full implementation of the Unified Budget will help enhance Libya’s financial stability, preserve the value of the Libyan dinar and the purchasing power of the Libyan people, enable the implementation of development projects and international investments throughout the country, and strengthen vital technocratic institutions in Libya, including the Central Bank of Libya, the National Oil Corporation, and the Audit Bureau.
The countries noted that the consolidated budget includes the first operational 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 statement said the increased oil and gas production will enhance the prosperity of the Libyan people and their international partners and will contribute to supporting energy security at both the regional and global levels.
They reaffirmed their support for the United Nations Support Mission in Libya (UNSMIL) and the road map prepared by the Special Representative of the Secretary-General, Hanna Tetteh.
The countries urged all parties concerned to utilise this road map and the mediation efforts undertaken by UNSMIL to advance a Libyan-led political process leading to unified governing institutions and national elections.
“Increased economic integration will complement and strengthen the political process. A strong and prosperous Libya with unified economic, military, and political institutions is in all of our interests,” they said.
