Libya’s Central Bank says deficit lowered to 4.6 billion dinars by end of 2018

Libyan Central Bank (CBL) (Photo: Internet)

Libya’s budget deficit was narrowed to 4.6 billion dinars ($3.32 billion dollars) in 2018 down from 10.6 billion dinars in 2017 thanks to a rise in oil revenues, the central bank said on Monday.

Libya’s oil revenues stood at 24.5 billion dollars in 2018, up 78 percent from the previous year, central bank data showed.

State oil company NOC aims to increase production to 2.1 million barrels per day (bpd) by 2021.

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