The Central Bank of Libya revealed in a statement today, Thursday, that the total spending during the months of January and February of this year amounted to 3.5 billion dinars, while the state’s sovereign revenues during the same period did not exceed the amount of 595 million dinars.
The Central Bank clarified in its statement that nearly 90% of spending during the first two months of this year was on salaries, which amounted to 3.1 billion dinars, although it did not include salaries for the month of February, as for the rest of the expenditure, it is distributed among the subsidy section, at a value of 318 million dinars, in addition to 55 million dinars to cover operating expenses.
The Central Bank added that the sovereign revenues amounting to 595 million dinars were distributed between the amount of 472 million dinars of tax revenues for the last period, the amount of 25 million dinars in customs revenues, and 98 million dinars of other revenues, noting that an amount of 11.4 billion dinars was received from National Oil Corporation related to taxes of previous years of other companies.
Adapted from Central Bank of Libya Official Facebook Page