GNA Finance Ministry Unveils Latest Revenue

0
226

The Finance Ministry of the Government of National Accord (GNA) stated that revenues for this year amounted to 42.8 billion Libyan dinars (LYD) while its total expenditures were 136.2 billion LYD.

The Ministry of Finance revealed that these revenues were represented as a loan by the Central Bank, for an amount of 20 billion LYD. Financial revenues from oil and sovereign resources, are roughly 187.7 billion LYD. In a statement, the ministry stated that the total expenditure for public entities amounted to 29 billion LYD.

Libya’s oil output has been rising steadily since the gradual lifting of an eight-month blockade in September. Oil production has now reached 1.215 million bpd, as the OPEC member is recovering faster than expected.

Last year, the GNA estimated Libya’s 2020 budget to be slightly less than 48 billion LYD.