CBL: Libya’s public revenue amounted to $19 billion, spending $17.6 billion in 11 months

CBL: Libya’s public revenue amounted to $19 billion, spending $17.6 billion in 11 months

The Central Bank of Libya (CBL) has said that public revenue amounted to 92.6 billion dinars (about $19 billion) from the beginning of this year until November 30, compared to spending of 85.7 billion dinars (about $17.6 billion) during the same period.

This came in CBL’s monthly statement for Public Revenue and Expenditure, issued Wednesday, where revenues were distributed by 67 billion dinars from oil sales, 11.9 billion dinars from oil royalties, 11.4 billion dinars from oil royalties for previous years, and 875 million dinars from taxes.

Customs revenues amounted to 191 million dinars, communications revenues 330 million, revenues from selling fuel in the local market 205 million, and other revenues 652 million, which represent revenues received from financial services controls in Libyan cities in exchange for public services (passport fees, car ownership fees, fines, etc.).

CBL’s data showed that spending on salaries (chapter one of the general budget) amounted to 40.9 billion dinars, and operating expenses (chapter two) amounted to about 7.9 billion dinars.

550 million dinars were allocated for development (chapter three), of which 144 million dinars were allocated to the Educational Curriculum and Research Centers, in addition to grants for students who were transferred to Libyan embassies abroad.

As for subsidies (Chapter Four), 17 billion dinars were spent on it, and an exceptional budget was spent for the National Oil Corporation at a value of 19.2 billion dinars, and no funds were allocated for Chapter Five (emergency).