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In numbers: The Central Bank statement reveals the economic situation of Libya in 2021, the expenditures and other very important details.

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The Central Bank of Libya issued today its statement about revenues and expenses and about foreign exchange revenues and its use of cash liquidity during the whole year of 2021.

The statement states: “The expenditures of the third section represented 27% of total expenditures compared to 4% in previous years. The return on the fee on foreign exchange sales during 2021 was not used to finance any expenditure.”

It mentions that the general budget was in surplus of approximately 19.9 billion dinars and that the general budget was consolidated for the entire Libyan territory under the Government of National Unity.

It also adds: “Fuel support still accounts for the largest share of support and represents almost 50% of it, which is a problem that needs to be addressed because it causes unfair distribution and waste of public money.”

According to the central bank statement, the collection of non-oil sovereign revenue is also weak, and it encompasses: Taxes, customs and public service charges. The customs revenues are disproportionate to the amount of documentary credits opened by banks, which represents about 45% of the foreign exchange use with a value of $10.7 billion, equivalent to about 50 billion dinars while the customs revenues account for only 311 million dinars, representing 0.06% of the total credit value.

In addition , the tax revenues do not commensurate with the increase of the expenditures of Section One salaries and their provisions by 50% over the last year, and 85% of the Fifth Section of emergency expenses were spent for development purposes with approximately 6 billion dinars.

The Central Bank reported that documentary credits represent about 45% of foreign exchange uses, and that government expenditures fell from foreign exchange during 2021 as compared to previous years.

It said that although the development spending has increased by 27% during 2021, the government’s foreign exchange use was lower than in 2020.

The Central Bank has also accomplished a great achievement and remarkable improvement in providing cash liquidity for all branches of banks in Libya, where the liquidity disbursed to bank customers exceeded 35 billion dinars and the Air shipments sent to bank branches in the eastern region exceeded 2.2 billion, and 1.6 billion dinars to the southern region.

Central Bank of Libya reveals: “Last year’s support budget was approximately 21 billion dinars, of which 10 billion were allocated to support fuel.”

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The Central Bank of Libya revealed in a statement on Wednesday that the amount of support in the 2021 budget reached 20 billion and 800 million dinars, which represents approximately one quarter of the budget, exactly 24% of it.

It explained the ways that this budget was spent in, which included supporting the costs of fuel with 10 billion dinars, 4 billion and 400 million dinars were for children’s allowances, 3 billion dinars for medicines and 2 billion dinars for the Marriage Support Fund, as well as 840 million dinars for electricity support, 425 million for public hygiene and 230 million dinars for water and sanitation.

Data from the Central Bank shows that the amount sold to banks has reached 18,728 billion, and these are details in numbers.

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The report of the Central Bank of Libya revealed the amounts sold to commercial banks throughout 2021, showing that these sold funds have reached 18.728 billion Dollars. 

In fact, the total amounts sold to the Jumhouria Bank were 3.312 billion, the Aman Bank 2.916 billion, the National Commercial Bank 2.172 billion, the Yaqeen Bank 1.643, the Libyan Islamic Bank 1.346 billion, the United Bank 1.188 billion, the Nuran Bank 1.127 billion and the Sahara Bank 1.028 billion.

In addition , the total amounts sold for Wahda Bank were 920.616 million, the North Africa Bank 860.930 million, the First Gulf Libyan Bank was 648.996 million, the Bank of Commerce and Development was 412.995 million, the Assaray Trade and Investment Bank was 309.940 million, the Waha Bank is 309.603 million, the Mediterranean Bank was 218.666 million, the AlWafa Bank was 153,132 million, the Andalus Bank was 79,582 million, while the recorded sales of the Arab Commercial Bank were 39.934 million, of the Libyan Foreign Bank were 37.382 million and of the Ejmaa Arabic Bank were 0.0.

Troubled companies…Who is behind the displacement of thousands of Libyan families?

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This investigation reveals the reasons behind the failure of most public companies and their inability to pay the salaries of their employees, and exposes the involvement of some officials in the displacement of nearly 17,000 families. Exclusive testimonies condemning previous government decisions and clarifying the latest developments in this file. Follow up on the investigation for more details.

The mystery behind the disappearance of the Gazala statue

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Where is the Gazala statue? A question that baffled everyone… a mystery of an enforced disappearance… we examined its circumstances and details to trace the trail of the statue of “The Beauty and the Gazala”. Shocking statements, confessions and scenes that we uncover for the first time in this investigation.

Customs Authority… The invisible hands behind smuggling !

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The investigation exposes the involvement of some Customs Authority employees in facilitating smuggling.. Serious numbers and facts that have been uncovered.. Exclusive testimonies and documents that put the Customs Authority in dock.. Continue watching the investigation to find out the merits of the case..

Insulin, the bitter diabetes..Disease and death at stake?

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An investigation was conducted for more than a month in the search of satisfactory answers that justify the shortage of insulin drugs in the market, and exclusive testimonies from officials and sources that are familiar with the reality of the situation in the country. Follow up on the investigation for more details.

Investigations” Program _ The Arms Trade in Libya

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The first episode of “Investigations” Program that sheds light on the arms trade file in Libya .. A big and cross-cutting file which involves traders, brokers and customers, in-depth information, records and statistics that have come to light for the first time..We discovered that anyone can form an army of armed men with just a phone call.. Stay tuned for further investigative content