Libyan oil revenue drops to 11.2%

Libya’s oil revenue dropped 11.2% to 14.3 billion dinars ($10,2 billion) in the first six months of 2019, compared with the same period last year, the Libyan central bank announced this week.

Revenue from foreign exchange fees stood at 11.1 billion dinars, the bank said in a statement.

It also listed on a chart an allocation of $2.096 billion for state oil firm NOC.

Public sector employees’ salaries accounted for 55.6% of total spending at 9.9 billion dinars during the first half of 2019, while subsidies represented 19.4% of total state spending equivalent to 3.483 billion dinars.

Via Libya Express