The budget and finance committee of the General National Congress (GNC) has discussed the as-yet-unapproved 2014 budget. 
Libya's interim economy minister says the government has yet to pass a 2014 annual budget, warning of a "very difficult situation."
Ministry of Education salaries totalled around LD6bn ($4.7bn) last year, according to an official report, roughly a quarter of the total state wage bill - which itself made up 40% of the annual budget.
A new report criticises the Libyan Investment Authority (LIA) for investing funds without taking correct due diligence procedures, with figures suggesting its return on assets in 2012 was just 0.8%.
The government's income from customs duties last year was a fraction of 2010 levels and far below finance ministry projections, says an official report.
Libya's government spent about LD62bn ($49bn) in 2013, according to a recent official report, outstripping revenues that were lower than forecast due to the severe disruption in the energy sector.
The monitoring body has presented the General National Congress (GNC) with its review of the 2013 budget, which it said raised “many concerns and violations”.
Prime minister Ali Zeidan says his government has asked parliament to approve a six-month budget for 2014, claiming it is “difficult” to draft the document given the current situation.
The head of the national assembly's finance and budget committee says Libya’s budget deficit has reached LD3.8bn ($3bn) due to lower government revenues, and warns of “very serious” consequences for the country.
The General National Congress (GNC) is discussing “emergency and immediate” measures to help the government deal with the continued fall in oil revenues, which has delayed the drafting of this year's budget.
The finance ministry has been given permission to allocate monthly budgets for the labour ministry as an interim measure until the 2014 budget is finalised.
Mahdi Genia says most public-sector workers will not receive a pay increase this year due to the oil crisis, which has significantly reduced the state’s revenue.
The prime minister’s office has summarised the funds it provided to ministries during 2013, which appear to be some 25% below the total amount set out in last year's budget and 14% below spending in 2012.
The organisation estimates that Libya's economy shrank by 6% last year thanks to problems in the oil sector, a sharp drop from the 15% growth it projected last June.
Libya's consumer price index rose by 2.6% in 2013, according to figures published by the Central Bank, down from 6.1% in 2012.