Libyan oil revenue drops to 11.2%, Central Bank says

Libyan Central Bank (CBL) [Photo: Internet]

Libya’s oil revenue dropped 11.2% to 14.3 billion dinars ($10,2 billion) in the first six months of 2019, compared with the same period last year, the Libyan central bank said on Monday.

The bank said in a statemen that oil represented 92.8% of the country’s total income during the period.

Revenue from foreign exchange fees stood at 11.1 billion dinars, the bank said in a statement.

It also listed on a chart an allocation of $2.096 billion for state oil firm NOC.

Public sector employees’ salaries accounted for 55.6% of total spending at 9.9 billion dinars during the first half of 2019, while subsidies represented 19.4% of total state spending equivalent to 3.483 billion dinars.

Have your say. Give us your feedback.
Sign up for our Newsletter.

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept