The Central Bank of Libya revealed in a statement today, Thursday, that the total state revenues this year until the end of May amounted to about 47.7 billion dinars, while government spending during this period amounted to about 32.1 billion, with a surplus of about 15.6 billion dinars.
The Central Bank stated in its statement that about 98% of the state’s revenues are from oil revenues, which amounted to about 46.7 billion dinars from oil sales and royalties to foreign companies for this year and previous years, while other sovereign revenues did not exceed one billion dinars, distributed between 296 million dinars from taxes revenues, 66 million dinars from customs revenues, 176 million dinars from communications revenues, 90 million dinars from the sale of fuel, in addition to 327 million dinars from other revenues.
As for spending, the Central Bank indicated that 70% of government spending, which amounted to 32.1 billion dinars, was on the salary item, with a value of 22.7 billion, while an amount of 4.4 billion dinars was spent on support, and an amount of 2.8 billion for operating expenses, in addition to an amount of 2.2 billion dinars for the chapter of development.