CBL: Libya's revenues hit 92.6 billion dinars and expenditures reached 85.7 billion in last 11 months

CBL: Libya's revenues hit 92.6 billion dinars and expenditures reached 85.7 billion in last 11 months

December 07, 2022 - 21:39
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Written By: AbdulkaderAssad

Recent statistics of the Central Bank of Libya (CBL) showed that public revenues amounted to 92.6 billion dinars from the beginning of 2022 until November 30, while expenditures amounted to 85.7 billion dinars in the same period.

The CBL added on Wednesday that revenues were 67 billion dinars from oil sales, while oil royalties revenues amounted to 11.9 billion dinars, revenues from oil royalties for previous years reached 11.4 billion dinars, and taxes hit 875 million dinars.

It also said that customs revenues amounted to 191 million dinars, telecommunications revenues 330 million, revenues from selling fuel in the local market 205 million, and other revenues 652 million: revenues received from financial services' controls in Libyan cities in return for public services (passport fees, car ownership, fines, etc.).

As for expenditures, the CBL's statistics showed that public salaries (chapter one) amounted to 40.9 billion dinars, and management expenses (chapter two) amounted to about 7.9 billion dinars. It said 550 million dinars were allocated for development (chapter three), of which 144 million were allocated to the Educational Curriculum and Research Center, in addition to grants for students that were transferred to Libyan embassies abroad.

As for subsidies (chapter four), they amounted to 17 billion dinars, while an exceptional budget was allocated for the National Oil Corporation at a value of 19.2 billion dinars. No funds were allocated for emergency (chapter five).