The Deputy Governor of the Central Bank of Libya, Ali Al-Hibri, stated that 50% of the cash reserve has been spent since 2011 due to wars, political conflicts and the government deficit in the general budget.
Al-Hibri told the Libyan News Agency that this would require reforms such as diversifying the economy and reviewing and controlling public spending.
He called for a review of public jobs as they reached 35% of the population, and a review of specific taxes.
“It is not reasonable to pay about 34 billion dinars in salaries and in return the tax is 0%,” he said.