Tag Archives | Budget

Libya to Spend $50bn Budget

The Libyan government is to allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year. This, according to Reuters, comes even though lawmakers have not voted on it, and might force the central bank to use more of its reserves as the budget is not […]

Libya to Slash Budget

Libya must slash its budget by a third and halt infrastructure funding to offset the loss of oil revenues, according to a report by Reuters. Mohammed Abdullah, head of the budget committee, said that the General National Congress (GNC) proposes to cut the budget to 44 billion Libyan dinars ($36 billion) from 68.6 billion dinars […]

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Libya: NTC Approves 2012 Budget of 68 Billion LD

Libya's National Transitional Council (NTC) has approved the long awaited budget for 2012 on Sunday. The total amount of the budget is LD68,525,604,750.00. The NTC spokesman Mohammed al-Harizi told the Libyan news agency said the NTC’s approval of the budget included recommendations directed to the government relating to the spending procedures and financial oversight. He […]

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Jalil: 2012 Budget to be Approved Soon

The chairman of Libya's National Transitional Council (NTC), Mustafa Abdul-Jalil said Saturday that the Libyan budget for 2012 which is estimated at over 68 billion Dinars will be approved by the NTC within the coming two days. He said the move indicates that the NTC is quiet supportive of the interim government of Mr. Abdurrahim […]

Libya 2012 budget spending to reach 68.5 bln dinars

The Libyan interim government budget provides for up to 68.5 billion dinars in spending this year. A statement from Prime Minister Abdurrahim El-Keeb's office said the transitional government, appointed in November until elections in June, had met on Tuesday to discuss the 2012 budget. "It was adopted and referred to the National Transitional Council for […]

Oil in Libya 2012 budget

Libya’s 2012 proposed budget draws heavily on oil revenues, forecast to reach about $54 billion or 41 billion euros, to compensate for the loss of corporate tax revenues in last year’s conflict. “Libyan state revenues for this year will depend heavily on oil revenues,” a senior official was quoted as saying late on Thursday. The […]

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Libya govt proposes $55 bn 2012 budget

Libya's interim government has proposed a 2012 budget of $55 billion as the country undertakes reconstruction efforts and gears up for its first elections since Moamer Kadhafi was toppled last year. "The estimated total budget for this year is 68.5 billion Libyan dinars ($55 billion/40.9 billion euros)," the prime minister's office said after it was […]

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Libya sees $10 bln budget deficit in 2012: paper

Libya's government will post a budget deficit of $10 billion this year as it struggles to pay public workers' salaries and meet energy costs, the head of the country's National Transitional Council (NTC) said in remarks published on Thursday. Mustafa Abdel Jalil told French daily newspaper Le Figaro the country had still only recovered a […]