The Libyan Ministry of Finance said in its public financial disclosure and transparency report, that the state’s general revenue for the first quarter of 2023 amounted to 26,131,157,000 dinars, while the public expenditure amounted to 18,113,220,000 dinars.
It said the total oil revenues amounted to 25 billion dinars, the sovereign revenues amounted to 512 million dinars, and the remaining account balances for previous years amounted to 117 million dinars.
The Ministry of Finance said that oil sales revenue amounted to 14.323 billion dinars, while revenues from taxes and royalties from oil companies amounted to 11.178 billion dinars.
Regarding government public spending, which exceeded 18 billion dinars, the Ministry said that 73% of the expenditure was allocated to the salaries section, 13,223,983,000 dinars.
The Ministry added that more than 3 billion dinars were allocated for support, at a rate of 18%, about 904 million dinars were assigned for operating expenses, at a rate of 5%, and more than 705 million dinars were set for development projects, at a rate of 4%.
