Oil Revenues Triple in 2017; Budget Deficit Halved

By John Lee.

The Central Bank of Libya (CBL) says that Libya’s revenue for 2017 reached LYD 22.31 billion ($16.5 billion).

This was made up of:

  • oil exports of LYD 19.2 billion ($14.1 billion);
  • tax of LYD 845 million ($623 million);
  • customs duty of LYD 164 million ($121 million); and,
  • general revenue  of LYD 2.1 billion ($1.5 billion).

Reuters reports that oil revenues were nearly three times more than in 2016 (which was $4.8 billion), allowing Libya to halve its budget deficit from from 20.3 billion dinars to 10.6 billion Libyan dinars ($7.85 billion).

(Sources: Central Bank of Libya, Reuters)

2 Responses to Oil Revenues Triple in 2017; Budget Deficit Halved

  1. Mehmet metin ulku January 10, 2018 at 6:02 am #

    Glad to know that Libya has an upward trend in normalization.

  2. Mehmet metin ulku January 10, 2018 at 6:04 am #

    I am very glad to hear that Libya has an upward trend in normalization.

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