Libya’s Central Bank: Revenue of last five months reached 54.6 billion dinars, spending 31.1 billion
The Central Bank of Libya (CBL) revealed that the revenues of the last five months have reached 54.6 billion dinars, while spending amounted to 31.1 billion, saying that May revenues exceeded the other four months by 1.7 billion and expenditures by 8.2 billion.
The CBL said oil revenues reached 37.4 billion and oil royalties reached 4.7 billion, adding that oil royalties of last years reached 11 billion dinars.
“Tax revenues amounted to 502 million, customs revenues 30 million, telecommunications sector revenues 146 million, while fuel revenues in the local market amounted to 60 million, and other revenues 210 million dinars.” The CBL said.
On public spending, the CBL said that the salary section amounted to 16.4 billion dinars, the operating expenses section amounted to 2 billion, the subsidies’ section reached 8.6 billion, and the development section 118 million, in addition to an extraordinary budget allocated to the National Oil Corporation (NOC) amounting to 4 billion dinars, while the emergency section was zero dinars.
The CBL added that foreign exchange revenues during the same period amounted to 11.5 billion dollars, 2.5 billion dollars of which were royalties from previous years, and foreign exchange uses amounted to 11.1 billion dollars.
The CBL added that financing government spending for the state sectors according to exchange permissions received from the Ministry of Finance within the limits of 1/12 of last year's expenditures.