Reading the budget of the year 2008 indicates that Libya will become a huge working place where enough resources are to be spent on a developmental drive that will touch all economic and services sectors.
The General Peoples' Committee approved on Wednesday LD9 billion budget for next year. This budget does not include other important sectors such as housing, the defense as will as the administrative budget.
The meeting which was attended by top executive officials of most sectors including the chairman of the General Company for Post and Telecommunication (GCPT) Engineer Mohammed Muammar Al-Qathafi, discussed all aspects of each sector's needs and its strategy for implementing the planned projects.
Huge amounts of money have been allocated that include LD400 million to GCPT, LD2.41 billion to transportation and LD3.85 billion for investments in the oil and gas sector earmarked for financing investments in the field with the aim of increasing oil production to 3 million barrels a day.
Another LD415 million were allocated to the industrial and mining sector.
Moreover, the foreign affairs and international cooperation sector received LD235 million to be spent on constructing and buying embassy premises in various countries.
The GPC also agreed to allocate LD1.33 billion to the educational sector and another LD900 million for railroad projects and related matters and institutions.
The treasury sector also received LD65 million to be spent on modernizing its institutions.
Also another LD408 million were allocated to the sector of economy, trade and investment and its related institution along with LD800 million to subsidies consumer goods.
The GPC for Manpower, Training and Employments also received LD650 million to be spent on various projects aimed at improving the administrative sector and human resources.
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