The Central Bank of Libya issued a Statement concerning Revenues and Expenditures for the period 1 January to 29 February 2020, along with the foreign currency sales for commercial banks (in USD) for the same period.

The bank declared that oil revenues for January and February crashed to just 380 million LYD, adding that other revenues earnt 903 million LYD, while the foreign exchange levy earnt 6.1 billion LYD.

Moreover, telecoms revenues of 288 million LYD were overdue from 2019.

Outgoings totalled 450 million LYD, with state-sector wages receiving zero, operational expenses receiving LD 5 million, development projects zero and subsidies 445 million LYD.

The Central Bank of Libya confirmed that the approved 2020 state budget was set at 38.5 billion LYD , which was awaiting approval by the government, pointing out that ,in January and February, it received oil revenues of 3.251 billion LYD, of which 2.87 billion LYD were for December sales.