The Central Bank of Libya has revealed that state spending reached 47 billion dinars in the first seven months of 2023, equivalent to 8.93 billion euros, based on current exchange rates.
According to the media platform Fawasel Media, the largest share of expenditure is intended for the payment of salaries, the total value of which, in the first six months of 2023, was 28 billion dinars (5.32 billion euros).
The second largest share of expenditure, worth 11.5 billion dinars (almost 3.4 billion euros), is intended for grants, while the third, worth five billion dinars (about 1.5 billion euros), is made up of so-called “management expenses” or “operating expenses”, i.e. those intended to guarantee the correct functioning of public services.
In the end, there are funds allocated for development projects, which amount to a total of 2.5 billion dinars (almost 740 million euros).