The Central Bank of Libya (CBL) has released its monthly statement on revenue and public expenditure, covering the period from 1 January to 30 June 2024.
According to the bank’s statement, total revenues over the past five months amounted to 45 billion dinars, while total public expenditure reached 43.7 billion dinars.
The Central Bank highlighted that revenue from the fee imposed on foreign currency sales during the first six months of the year amounted to 9.5 billion dinars.
Additionally, the bank reported that foreign currency revenues totalled $9.1 billion, whereas foreign currency expenditures were $18 billion, resulting in a foreign currency deficit of approximately $9 billion.
The statement also noted that 32 billion dinars were distributed to branches of commercial banks in various Libyan cities over the past six months.
In May, Badr Al-Din Al-Toumi, the Minister of Local Governance in Libya’s outgoing National Unity Government, participated in the third edition of the “Looking South” International Forum.
Al-Toumi urged European countries to provide funding for investment operations in the Southern Mediterranean, including infrastructure, transportation, education, and healthcare.
He also emphasized the need to enhance trade cooperation and leverage the Italian “Mati” initiative to halt migration flows from African countries, calling for the development of executable plans to ensure its objectives are met.
The Minister of Local Governance added that the “Looking South” initiative could be relied upon to connect the North with the South, stressing its role in bridging value chains and consequently achieving industrial integration and service integration, contributing to increasing local outputs for Mediterranean countries.
