Central Bank of Libya data showed that public spending amounted to about 57 billion dinars ($11.87 billion) during the first eight months of this year, while revenues amounted to 78.3 billion dinars ($16.3 billion).
Spending is divided into five chapters; The first chapter is salaries and wages worth 24.4 billion dinars, and the second is government expenditures worth 5.3 billion dinars. The third chapter for development, with a value of 235 million dinars, and the fourth support, with a value of 11.89 billion dinars, in addition to the extraordinary budget of the National Oil Corporation, with a value of 34 billion dinars, of which 15.2 billion dinars were spent.
In terms of revenues, it amounted to 78.3 billion dinars (16.3 billion dollars), of which 76.7 billion dinars came from oil revenues, and the rest came from taxes, customs, and communications revenues, which the Central Bank statement described as low.
Crude oil exports represent 96 percent of Libya's total exports, which contribute about 95 percent of financing the state's public treasury. Libya's revenues from oil and gas exports amounted to more than $21.5 billion in 2021, the highest level in five years.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
