Libya's rival legislatures agree on $30 billion budget

Libya’s rival legislatures have reached an agreement on a budget of 190 billion dinars (approximately $30 billion), marking the first such consensus between the two competing camps in over a decade. This US-backed budget represents a potential shift toward cooperation between the country’s divided authorities.

The agreement comes fifteen years after the downfall of Muammar Gaddafi. Since the 2011 uprising and the subsequent Battle of Tripoli, Libya has faced a cycle of institutional rivalry and conflict. While a 2012 election briefly provided a peaceful handover of power, the stability was short-lived. By 2014, tensions escalated as Khalifa Haftar launched military campaigns, leading to the emergence of rival parliaments in Tripoli and Tobruk.