Audit Bureau says all government institutions to improve by kickoff of February

Audit Bureau says all government institutions to improve by kickoff of February

January 28, 2017 - 22:39
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Written By: AbdulkaderAssad

The Head of the Audit Bureau, Khalid Shekshak, said all of the Libyan government institutions will see a tremendous improvement starting from February 03 as cash will be available at the banks and foreign currencies will drop in price at the black market.

Shekshak told the press that every Libyan family will be entitled to cash out 2000 dollars annually by the official Central Bank of Libya’s rates (LYD 1.4) via using a debit card that is going to be up for gasps for all Libyans at all banks.

“Money will be allocated for the Libyan citizens studying abroad and for those who are receiving medical treatments abroad as well.” He added.

“This sort of action would definitely resolve the shortage of cash and would put an end to the hegemony of the businessmen of the black market on the exchange rates of the foreign currencies against the dinar.” Shekshak explained.

He indicated that it is expected that the exchange of foreign currencies at the banks would provide 18 billion dinars in cash for the banks.

“We do have 11 billion dollars deficit in the government budget, but as soon as we apply the needed legal procedures to the companies, all the economic crises will vanquish.” He further detailed, adding that urgent money was allocated for the sectors that are completely on verge of collapse.

“We’ll cash that money out for them by the end of January.” He remarked.

He also promised the employees of the health sector who have not received their salaries of 2013-2014-2015-2016 that the measures aiming at paying them out are legal and they are waiting the Central Bank of Libya (CBL) to distribute the approved budget, which is worth about 34 billion dinars.

Formerly, the Audit Bureau proposed to the CBL that the latter provides foreign currency for people using family debit cards verified by the National ID System, however; the CBL did not say yes or no to that yet, despite these fresh remarks by the Audit Bureau’s Head, who promised that measures are going to kick off in February.