TRIPOLI :Libya's parliament approved a budget on Wednesday for the government it appointed in March despite the incumbent administration refusing to step down, a move that may accelerate a return to parallel rule. The 89.7 billion Libyan dinar (US$18.6 billion) budget was approved unanimously, the parliament's spokesperson said. The Central Bank of Libya (CBL), which is based in Tripoli and is the only internationally recognised depository for Libyan oil revenues, finances Dbeibah's government. Libya analysts say if the CBL refuses to fund Bashagha's budget, parliament may ask the head of its eastern branch to do so, effectively ending the CBL reunification process. The parliament is based in the east and largely supported commander Khalifa Haftar's war against Tripoli and western factions.

Source: Libya Today June 15, 2022 11:44 UTC