Including 24.5 billion for electricity and oil.. Libya will spend 125 billion in 2023

The Ministry of Finance of the Government of National Unity announced that the state achieved public revenues during 2023 with a total of 126 billion and 370 million dinars, and expenditures worth 125 billion and 726 million dinars.

The Finance Ministry said in the Disclosure and Transparency Report issued on Sunday that the state’s financial resources in 2023 came from oil revenues that amounted to 121.6 billion dinars, out of total public revenues of 126.3 billion dinars.

The Finance Ministry added in its report that other sovereign revenues achieved a value of 3.8 billion dinars, in addition to 798 million as reference book balances for previous years.

Spending in 2023

Regarding public spending during 2023, the total public expenditures amounted to 100.9 billion dinars, distributed in the first chapter, “Salaries,” at 59.9 billion dinars, and 8.9 billion dinars for the second chapter as administrative expenses. As for the third chapter, development, expenditures amounted to 11.9 billion, and support was approximately 20 billion.

The total exceptional financial arrangements allocated to the National Oil Corporation amounted to 17 billion and 542 million dinars, and electricity amounted to 7 billion, out of total expenditures that amounted to 125 billion dinars during 2023.

Expenses of sectors and executive bodies

According to the report, the expenditures of the legislative and executive bodies represented by the four councils amounted to more than five billion dinars, distributed to the House of Representatives at 1.25 billion and the Supreme Council of State at 49.2 million, in addition to 759.2 million expenditures for the Presidential Council and 1.7 billion expenditures for the Council of Ministers and its affiliated bodies.

As for the Ministry of Foreign Affairs, according to the report, expenditures amounted to 1.6 billion dinars, followed by health at 7 billion dinars, and education at 17.2 billion dinars during the same period.

The value of transfers from Chapter One to the Ministry of Defense amounted to 7.2 billion dinars, and 2.4 billion dinars were expenses to the Ministry of Local Government.

Source: Ministry of Finance “Disclosure and Transparency Report”

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