Libya’s National Unity PM Writes to Governor Central Bank about Incongruities in Report

(3 Minutes Read)  

Dbeibah pointed to the bank’s data, which showed a general budget surplus for the two months of 9.6 billion Libyan dinars. However, the Central Bank’s report did not include data related to revenues from the 4.4 billion dinar fee imposed on the sale of foreign currency, which constitutes part of the state’s general revenue.

The Prime Minister of the Government of National Unity, Abdul Hamid Dbeibah, addressed a letter to the Governor of the Central Bank of Libya, Naji Issa, expressing his observations regarding the data contained in the bank’s report on revenues and expenditures for January and February 2025.

Dbeibah pointed to the bank’s data, which showed a general budget surplus for the two months of 9.6 billion Libyan dinars. However, the Central Bank’s report did not include data related to revenues from the 4.4-billion-dinar fee imposed on the sale of foreign currency, which constitutes part of the state’s general revenue. Accordingly, the budget surplus for that period reached 14 billion dinars, according to a post on the government media center’s Facebook page.

Regarding foreign currency revenues, total revenues during that period amounted to USD 3.6 billion, while total uses and outstanding obligations in foreign currency amounted to USD 6.1 billion, distributed between uses amounting to USD 581.6 million through the Central Bank of Libya and USD 5.537 billion through commercial banks.

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Dbeibah said that the link between the increase in demand for foreign currency and public spending is part of the truth but not the whole truth. He demonstrated this by stating that the report indicated that foreign currency revenues amounted to USD 3.6 billion, while public spending did not exceed US$1.5 billion, representing a surplus of USD 2.1 billion.