Saturday, 4/4/2020 | 8:12 UTC+0
Libyan Newswire

NAB offers recommendations to improve transparency in Libyan institutions.

Tripoli, National Audit Bureau (NAB) offered a host of recommendations to improve transparency in Libyan institutions. It stressed the significance of publishing laws and decisions issued by legislative and executive authorities in the media outlets including the internet and not to rely on the official gazette as sole source of publishing. NAB called on Ministry of Finance and Central Bank of Libya to regularly release to the public, economic and financial data and information including economic performance indexes, indicators of economic cycle, labor market statistics including employment figures. It also recommended to oblige Ministry of Finance to publish balance sheets and final accounts to show revenues and actual state expenditure annually and highlight deficit, surplus or debts. NAB called for designating a specialized depth in every organ or ministry to provide the information and oblige relevant state officials to clarify socio-economic changes( unemployment, inflation, increase or decrease of oil prices, increase or decrease of o production. NAB asked to oblige state officials to explain their work planes and justify decisions they take through press conferences. Workshops, and obligate stoke companies and government sector to have websites to publish data and information of interest to the public and prepare financial reports up to internationally accepted standards. It also called for publishing financial reports in real time because delay weakens transparency, and enable the public to review studies and research of government organs with direct impact on the public.

Source: Libyan News Agency