The Central Bank of Libya revealed in its statement issued today, Tuesday, regarding revenues and spending that the total government spending during the year 2023 until the end of October amounted to 83.6 billion dinars. The value of state revenues during the same period reached 96.6 billion dinars, meaning there is a surplus of 13 billion dinars.
The Central Bank explained that the state’s total revenues this year until the end of October amounted to 96.6 billion dinars, including 94.6 billion from oil revenues, which represent approximately 98% of revenues. Other sovereign revenues reached a total of 2 billion dinars, including 626 million from taxes, 257 million from customs, and 397 million from customs revenues, 1 million from the communications sector, 180 million from the sale of fuel in the local market, and other revenues worth 500 million dinars.
As for government spending during the same period, the Central Bank revealed that total spending reached 83.6 billion dinars, of which 43.7 billion dinars were allocated to salaries, 16.4 billion to support, 7.2 billion to administrative expenses, and 3 billion dinars to development Financial arrangements for the National Oil Corporation valued 8.8 billion dinars and 4.5 billion dinars.for the General Electricity Company