Libya: Rejection of the Budget for Violating Constitutional Legislation

The session of the High Council of State in Libya concluded today, Monday, with the rejection of the budget proposed by the Libyan House of Representatives due to its violation of Libyan constitutional legislation. The council discussed the decision of the Libyan House of Representatives to approve the state budget, which amounted to 180 billion dinars. The presidency and members of the High Council of State expressed their objections to the budget's approval by the House of Representatives for two main reasons: first, that the budget is excessively high and will lead to inflation in the Libyan market; and second, that the budget approval should occur in consultation with the High Council of State according to the political agreement. The Libyan House of Representatives approved the state budget for 2024 valued at 180 billion Libyan dinars, a figure that has raised objections from economic experts due to concerns about its impact on inflation in the Libyan market.