The Central Bank of Libya has issued its annual economic index for the first half of 2016, showing a serious hike in inflation with 25.3% from January to June 30 compared to 8.7% for the same period in 2015 and 9.8% of the entire 2015, which really explains the rocketing of prices on levels in the Libyan market.

The CBL index shows that the deficit in the expenditure had hit 16.36 billion dinars last year, while it was 27.4 billion in 2014.

It also explains that the revenue of the budget from January to June 30 amounted to 3.5 billion dollars, 700 million dinars of which were non-oil revenue while 2.8 million dinars were oil revenue compared to 10.59 billion dinars last year and 19.97 billion dinars in 2014.

As regards to the cash crisis, the CBL index said there are 25.8 billion dinars outside in the second quarter of the year with some additional 500 million dinars more compared to the first quarter, adding that deposits at the banks reached 59.28 billion dinars at the end of the second quarter and the savings deposits were 1.79 billion dinars.

The newly issued banknotes from January to June 2016 increased by 2.56 billion dinars reaching 26.25 billion in the second quarter of 2016 in comparison to 23.69 billion at the end of 2015.

The CBL index shows also that the foreign currencies reserves leaned back heavily from 113.17 billion dinars in 2012 to just 57.92 billion at the end of 2015 and 51.52 billion dinars at the end of the send quarter of 2016.

It also explained that Libya’s assets in the Libyan foreign bank have hit 27.07 billion in the second quarter of 2016 compared to 26.27 in the first.

The index indicated as well that Libya’s reserves at international organizations and foreign assets within the CBL have reached 95.16 billion dinars in the second quarter of 2016.