The Libyan Political activist Mohamed Eljarh said that documented corruption and mismanagement of public finances in Libya in the latest Audit Bureau report was “only the tip of the iceberg.”
Eljarh also pointed out that the report was not well-covered by media.
“Well documented corruption and mismanagement of public finances in Libya in the latest Audit Bureau report. It is only the tip of the iceberg. What is concerning is that the report is not getting anywhere near enough attention from existing media outlets,” Eljarh tweeted.
It is noteworthy that the Libyan Audit Bureau reported that the country’s oil revenues in 2021 amounted to $22.9 billion in exchange for foreign transfers by the Central Bank, amounting $24.5 billion, i.e. deficit of $1.6 billion, withdrawn from reserves, pointing out that demand for foreign exchange exceeded the State’s revenues with the exchange rate at 4.5 LYD to $1.