Libya recorded total public revenues exceeding 174 billion dinars during the 2024 fiscal year, according to official data released by the Audit Bureau, highlighting a renewed budget surplus despite long-standing structural imbalances in public finances.
The Audit Bureau said total revenues reached 174.8 billion Libyan dinars, while public spending stood at about 169.2 billion dinars. This resulted in a budget surplus of roughly 5.57 billion dinars for the year. The figures underline an improvement compared with the previous year, when the surplus was just over one billion dinars.
However, the bureau noted that the 2024 surplus remained lower than the level recorded in 2022, when the budget surplus exceeded 6.27 billion dinars. The data reflects continued volatility in Libya’s fiscal performance, largely linked to fluctuations in oil revenues and public expenditure patterns.
Despite the positive balance in 2024, the Audit Bureau warned that Libya continues to suffer from a large cumulative deficit dating back to 2014. According to the report, the accumulated deficit between 2014 and 2024 reached approximately 38 billion dinars. This figure does not include spending by eastern-based governments between 2015 and 2024, suggesting the actual fiscal gap could be wider.
The bureau’s annual report, which spans 18 chapters, provides an overview of the state’s financial position and assesses the performance of various public sectors. It also includes internal audit findings and risk-based evaluations aimed at correcting policies and improving the management of public funds.
The Audit Bureau stressed that the report focuses exclusively on the activities of the Government of National Unity and does not cover the administration appointed by the House of Representatives. It also cautioned against using the report for political disputes or personal interests, calling for it to remain a professional and objective reference.
The findings come amid renewed international calls for stability in Libya, with UN officials reiterating that lasting peace depends on addressing security challenges alongside economic and institutional reforms.