Libya's Divided Development: Budget in Question

Libya's eastern parliament approved a 69 billion Libyan dinar budget for its development and reconstruction fund, to be spent over three years. The fund's future is uncertain, as it awaits possible funding from Tripoli's Central Bank. This fund is influenced by political divisions in Libya.

Libya's eastern parliament approved a budget on Tuesday for its development and reconstruction fund. Despite this approval, uncertainty looms over whether the budgeted money will be realized due to ongoing national divisions.

The approved budget totals 69 billion Libyan dinars, equivalent to approximately $12.71 billion, and is to be allocated over three years. It will be managed under the supervision of the parliament, according to lawmaker Tarek Jroushi.

Compounding issues is whether the Central Bank of Libya, based in Tripoli, will release the funds. This situation underlines significant political and financial challenges, with the eastern fund led by Belgasem Haftar and the Tripoli-based government operating independently.

(With inputs from agencies.)