The Central Bank of Libya (CBL) yesterday released the latest data for the country’s revenues and spending from 1 January to 28 February 2025. According to this date:
- Oil revenues from oil and gas sales and royalties were 17.7 billion dinars. These represented more than 98% of state revenues.
- Other sovereign revenues from taxes, customs, telecommunications and others did not exceed 325 million dinars.
- Total government spending amounted to about 8.4 billion dinars.
- This leaves a dinar surplus of about 9.6 billion dinars.
- Of the government’s total spending, 5.9 billion dinars were allocated for state-sector salaries.
- 2.5 billion dinars were allocated for subsidies.
- 35 million dinars for administrative expenses.
- Oil revenues supplied to the CBL amounted to US$ 3.6 billion.
- Foreign exchange expenditures amounted to US$ 6.1 billion.
- A hard currency deficit of US$ 2.5 billion.
- The total cash liquidity distributed to branches of commercial banks in all Libyan cities amounted to about 16 billion dinars.
Foreign Exchange uses
The CBL provided the following breakdown of the US$ 6.1 billion foreign currency allocations:
- Documentary credits about US$ 2.4 billion.
- Value of foreign currency sold for personal purposes amounted to more than US$ 2.9 billion.
- US$ 161 million for transfers.
- US$ 17 million for small merchant cards.
Uses of foreign exchange for public entities
- US$ 70.7 million for the General Electricity Company of Libya (GECOL).
- US$ 64 million for the Medical Supply Organisation (MSO).
- US$ 63.5 million for the National Oil Corporation (NOC).
- US$ 53.6 million for the Housing and Infrastructure Board (HIB).
- US$ 46.4 million for students studying abroad.
- US$ 38.3 million for salaries of workers abroad.
- US$ 20.1 million for medical treatment abroad.
- US$ 225 million in transfers and credits for other parties.
