The Minister of Finance in the Government of National Unity Khalid Al-Mabrouk revealed that the general budget of the state will be approved by the House of Representatives in the coming days.
Al-Mabrouk added in a statement to CNBC Arabia that the Ministry is currently working according to the state financial law 1/12, and that they have continued with this approach since the beginning of the year until the budget is approved. He said that the budget surplus depends entirely on changes in oil prices as it is the only source and the surplus will be affected by it.
Regarding the tax law, Al-Mabrouk confirmed his intention to update a new tax law by creating a digital transformation system, noting that it will be applied to companies that open letters of credit and will be activated during the current year. He also indicated that the tax on corporate profits will be applied during the second quarter of 2025, explaining that the expected growth rate for the current year is more than 14 to 16%.
The United Nations Support Mission in Libya called on all concerned authorities in the country to work toward reaching an agreement on a unified budget without delay.
