Libya's central bank reports declining revenue and rising expenditures
The Central Bank of Libya (CBL) released revenue and expenditure data for the Libyan state covering the period from January to April 2024, saying it was committed to “heightened levels of disclosure and transparency, aiming to raise awareness of the economic and financial reality of the state.”
Libya is undergoing a “severe economic crisis” due to “governmental overspending, mismanagement of fuel subsidies, and undisclosed parallel expenditures,” as per recent correspondences from CBL Governor Sadiq al-Kabir to Government of National Unity (GNU) Prime Minister Abdulhamid Dabaiba and Agila Saleh, the Speaker of the House of Representatives (HOR).
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