In its latest monthly data release of 3 October, the Central Bank of Libya said that Libya’s total revenues in the first 9 months of this year amounted to 86.4 billion dinars, and that total spending amounted to 76.8 billion dinars.
It announced that foreign exchange revenues during the first nine months of this year reached $17.7 billion, while its uses increased to about $27.6 billion – leaving a deficit of $9.9 billion.
Customs revenues amounted to LD 225 million dinars, communications revenues LD 352 million, revenues from the sale of (highly subsidised) fuel in the local market LD 120 million. Other revenues including services fees, passport fees etc were LD 485 million.
Total spending over 9 months
As for expenditures, spending on Chapter One (salaries) amounted to LD 38.8 billion, representing 50.5 percent of the total public expenditure amounting to 76.8 billion dinars. The Central Bank indicated that Chapter One expenses do not include September salaries.
Spending on Chapter Two (administrative expenses) amounted to LD 6.4 billion dinars, or 8.3%, Chapter Three (Development/Projects) amounted to LD 3 billion dinars, or 3.9%, and Chapter Four (Subsidy) amounted to LD 15.4 billion dinars, or 20%. There was no spending on Chapter Five (Emergencies). There was LD 8.7 billion exceptional financial arrangements for the National Oil Corporation and LD 4.5 billion for the General Electricity Company.