Libya announces public revenues

 (2 minutes read)

The Central Bank of Libya (CBL) announced that public revenues amounted to 134.4 billion dinars (about US$28 billion) during the past year. The public spending amounted to 127.9 billion dinars (about US$26.8 billion)

The Central Bank of Libya (CBL) announced that public revenues amounted to 134.4 billion dinars (about US$28 billion) during the past year. The public spending amounted to 127.9 billion dinars (about US$26.8 billion).

In the monthly statement of public revenue and expenditure, which covers the period from January 1 to December 31, 2022, revenues were distributed at 105.5 billion dinars from oil sales, 13.6 billion from oil royalties, 11.4 billion from oil royalties for previous years, and 1.4 billion dinars from taxes.

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Most of Libya’s revenue comes from oil exports. There have been dislocations created around oil wells because of the perennial conflicts taking place in the North African country.