The High Financial Committee approved Sunday, at the fifth meeting held in Sabha in the south of Libya, headed by the Head of the Presidential Council, Mohammed Menfi, a proposed method for disclosure and the briefings it would issue to national and international public opinion, as well as the proposed principles and criteria for the unified budget for 2024.

The Committee said in a final statement that it had assigned a team to work on preparing the foundations and criteria for the unified budget in its final form provided that it would guarantee the quality of public spending, fair distribution and improvement of services.

The meeting in Sabha also reviewed a report submitted by the National Oil Corporation (NOC) on oil and gas revenues and their derivatives, according to the disclosure rules required by the NOC, tasking a team to prepare the standards for disclosure of revenues. 

The committee also reviewed the results of the work of the team assigned to prepare the foundations and criteria for development spending for 2023: (Chapter Three), represented in the fair distribution of projects and the priority to complete ongoing projects as well as strategic projects related to direct services to citizens, municipal projects, and the promotion of administrative decentralization.

The committee announced the termination of the membership of the Deputy Governor of the Central Bank of Libya (CBL) Marie Al-Barasi due to his "repeated absence from attending meetings without an acceptable excuse."

Al-Barasi announced his resignation from the membership of the High Financial Committee, considering that it was formed in violation of the laws and legislation in force in the Libyan state, and in violation of the political agreement signed in Skhirat, Morocco, according to what he said in a letter of resignation addressed to Menfi. 

In his speech at the committee's meeting on Sunday, Menfi said he was surprised at the questioning of the legality of forming the committee after more than 60 days had passed since its formation, stressing that the Constitutional Circuit Court had been activated and could accept any appeals in this case.