The Central Bank of Libya's Governor Naji Issa met with Oil and Gas Minister Khalifa Abdulsadiq to review the latest developments in oil production levels and the challenges facing the sector.
According to the Central Bank, the meeting was part of efforts to strengthen coordination between the two institutions to support the oil sector and strengthen the national economy.
The Bank added that discussions also focused on ways to provide the necessary support to the National Oil Corporation (NOC) in implementing its plans to increase production and improve performance efficiency.
The meeting also addressed the potential negative impacts of declining global oil prices and the broader economic challenges that could arise—particularly in relation to public revenues.
Both sides stressed the importance of ensuring that oil sales revenues are regularly deposited into government accounts at the Central Bank of Libya, to guarantee transparency and efficiency in managing the state’s public finances.
