Tripoli, January 04, 2023 (LANA) – The Central Bank of Libya announced that Libya’s total revenues from oil increased to 105.5 billion Libyan dinars ($22.01 billion) in 2022, from 103.4 billion dinars in 2021.
In its monthly statement of public revenue and expenditure, issued today, Wednesday, the bank said that public revenues amounting to 134.4 billion dinars were recorded during the past year, while public spending amounted to 127.9 billion dinars.
He explained that the revenues were distributed by 105.5 billion dinars from oil sales, 13.6 billion dinars from oil royalties, 11.4 billion dinars from oil royalties for previous years, and 1.4 billion dinars from taxes.
The bank added that customs revenues amounted to 211 million dinars, communications revenues 529 million, revenues from selling fuel in the local market 265 million, and other revenues 1.5 billion.
The bank’s data showed that spending on salaries (chapter one) amounted to 47.1 billion dinars, operating expenses (chapter two) recorded 9 billion dinars, while allotted for development (chapter three) 17.5 billion dinars, and for support (chapter four) 20 billion dinars, and 34.3 billion dinars. One billion dinars is an exceptional budget for the National Oil Corporation, and no funds were allocated for Chapter Five (emergency).
Source: Libyan News Agency