The Tripoli based Central Bank of Libya (CBL) reported Wednesday that Libya’s oil revenues for the period 1/1/20 to 30/4/20 were LD 1,978 bn, down LD 22 million on budget estimates of LD 2bn, while taxes brought in LD 169 m, down LD 264 on projected estimates of LD 433 m and customs duties brought in LD 35 m, down 98 m on projected LD 133 m.

Telecoms revenues inexplicably brought in zero revenues from a projected LD 133 m while CBL profits were as projected at LD 100 m.

Local fuel sales brought in LD 75 m from a projected LD 133 m.

However, other revenues brought in LD 143 m down LD 100 m from a projected LD 243 m.

To cover this shortfall, the CBL gave the Libyan government a ‘‘deficit loan’’ of LD 8.902 bn.

The CBL warned about the decline in non-oil sources of state revenues and called on the authorities to improve these streams.