The Libyan Administrative Control Authority (ACA) has disclosed that Libya’s total public spending from 2012 to 2023 has surpassed 722 billion dinars, based on data provided by the Central Bank of Libya.
The authority noted discrepancies between oil revenues and expenditures reported by the Central Bank, Ministry of Finance, and the Libyan Foreign Bank, attributing this to differences in procedures among these institutions.
During a press conference on Sunday, the authority announced the release of its 2023 annual report.
The report details public spending, national debt, and recorded violations by government bodies from 2011 to the end of 2023.
The event was attended by the authority’s chairman, Abdullah Qadarbouh, along with department directors.
The report highlighted that Libya’s national debt has exceeded 154 billion dinars since 2011, with over 84 billion dinars accumulated in the past three years alone.
Furthermore, the debt of the former government, led by Abdullah Al-Thinni between 2015 and 2020, reached 69.9 billion dinars.
Chairman Qadarbouh stated that the report aims to provide accurate financial and administrative statistics to assist state officials in making informed decisions.
He stressed the importance of forming specialised committees to follow up on the authority’s observations, rectify errors, and safeguard national interests.
Qadarbouh also revealed that he had communicated with the Central Bank’s governor, Nai Essa, before the press conference to discuss conflicting financial data from the bank. Essa reportedly promised to address the authority’s concerns, clarify the discrepancies, and initiate investigations where necessary.
