Central Bank: Libya’s Revenues Reach 86.4 Billion Dinars


According to a statement by the Central Bank of Libya (CBL), the country’s revenue for the first nine months of 2023, amounted to 86.4 billion Libyan dinars.

The monthly statement covers revenue and general expenditure for the period from 1 January 2023, to 30 September 2023.

It was reported that revenues in September alone reached 8.2 billion. The total general revenue in Libya from January to August 2023 amounted to approximately 78.2 billion.

The CBL explained that the general revenue during this period was derived from oil sales, amounting to 67.1 billion, oil royalties of 7.3 billion, and oil royalties from previous years totalling 10.3 billion.

The general revenue included taxes amounting to 481 million, customs revenue of 225 million, telecommunications revenue of 352 million, and domestic fuel sales of 120 million. Additionally, there were other revenues totalling 485 million.

In July, the CBL reported an impressive revenue total of 49.5 billion for the first half of 2023, underlining a strong financial performance in the country.

In its monthly bulletin, the CBL detailed that oil sales have significantly fueled the earnings, providing a hefty 33.4 billion dinars. The report also noted oil royalties amassed 4.7 billion dinars, and royalties from prior years culminated in a further 10.3 billion dinars.

Libya’s revenues from taxes were also substantial, reaching 327 million dinars. Customs revenues stood at 96 million dinars, with telecommunications bringing in another 202 million dinars. Additionally, the domestic sale of fuel contributed 120 million dinars to the revenue pool.

The Bank also spotlighted other income sources, totalling 343 million dinars. These included revenues from financial services across Libyan cities, ranging from public service fees to recoveries, passport fees, vehicle registration, penalties, and other levies.