The Central Bank of Libya revealed in its statement issued today, Sunday, regarding revenues and spending, that the total government spending during the year 2023 amounted to 125.7 billion dinars. Meanwhile, the state’s revenues during the same year reached 125.9 billion dinars, resulting in a surplus of 200 million dinars.
The Central Bank explained that the total state revenues during 2023 amounted to 125.9 billion dinars, of which 121.7 billion came from oil revenues, representing approximately 97% of the total revenues. In addition, there were other sovereign revenues totaling 4.2 billion dinars, including 2.4 billion from taxes, 333 million from customs, 506 million from the telecommunications sector, 180 million from the sale of fuel in the local market, and other revenues totaling 792 million dinars.
As for government spending in 2023, the Central Bank disclosed that the total spending reached 125.7 billion dinars. Of this amount, 60 billion dinars were allocated for salaries, 20 billion for subsidies, 9 billion for operational expenses, and 12 billion for development. Additionally, there was an exceptional budget for the National Oil Corporation amounting to 17.5 billion dinars and for the General Electricity Company with a value of 7.2 billion dinars.