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
Source : https://www.marocafrik.com/english/Libya-2012-budg...
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, according to the Tripoli Post.
"It was adopted and referred to the National Transitional Council for adoption," the statement said, referring to Libya's ruling body. "The budget estimate for this year is about 68.5 billion Libyan dinars."
A government spokesman said the figure included reconstruction costs. The statement gave no mention of an estimated budget deficit.
In a newspaper interview earlier this month, the head of the National Transitional Council, Mustafa Abdul-Jalil, said Libya would post a budget deficit of $10 billion this year as it struggles to pay public workers' salaries and meet energy costs.
Speaking about the issue, National Transitional Council's (NTC) head Mustafa Abdel Jalil told French newspaper Figaro that the country has only recovered a fraction of $100 billion in assets frozen abroad during the civil war.
Abdel Jalil noted: “The production of oil has brought in $4 billion in the last five months, while the salaries of civil servants are $22 billion a year and spending on electricity and fuel $14 billion...The budget being prepared should be in deficit of $10 billion.”
On Monday 6th February, International Monetary Fund (IMF) said that restoring order to oil and gas production in Libya is central to rebuilding the country's infrastructure, which has endured considerable damage during the eight months of civil war.
Speaking on January 19th, Libya's Central Bank governor Saddeq Omar Elkaber, said that the government's 2012 budget would register a 7 billion dinar ($5.6 billion) deficit and that the lifting of UN sanctions on the central bank's assets had unfrozen 95 per cent of its $100 billion in assets ,accordingto Menas Associates
"It was adopted and referred to the National Transitional Council for adoption," the statement said, referring to Libya's ruling body. "The budget estimate for this year is about 68.5 billion Libyan dinars."
A government spokesman said the figure included reconstruction costs. The statement gave no mention of an estimated budget deficit.
In a newspaper interview earlier this month, the head of the National Transitional Council, Mustafa Abdul-Jalil, said Libya would post a budget deficit of $10 billion this year as it struggles to pay public workers' salaries and meet energy costs.
Speaking about the issue, National Transitional Council's (NTC) head Mustafa Abdel Jalil told French newspaper Figaro that the country has only recovered a fraction of $100 billion in assets frozen abroad during the civil war.
Abdel Jalil noted: “The production of oil has brought in $4 billion in the last five months, while the salaries of civil servants are $22 billion a year and spending on electricity and fuel $14 billion...The budget being prepared should be in deficit of $10 billion.”
On Monday 6th February, International Monetary Fund (IMF) said that restoring order to oil and gas production in Libya is central to rebuilding the country's infrastructure, which has endured considerable damage during the eight months of civil war.
Speaking on January 19th, Libya's Central Bank governor Saddeq Omar Elkaber, said that the government's 2012 budget would register a 7 billion dinar ($5.6 billion) deficit and that the lifting of UN sanctions on the central bank's assets had unfrozen 95 per cent of its $100 billion in assets ,accordingto Menas Associates
Source : https://www.marocafrik.com/english/Libya-2012-budg...