By John Lee.
The Central Bank of Libya (CBL) says that Libya’s revenue for 2017 reached LYD 22.31 billion ($16.5 billion).
This was made up of:
- oil exports of LYD 19.2 billion ($14.1 billion);
- tax of LYD 845 million ($623 million);
- customs duty of LYD 164 million ($121 million); and,
- general revenue of LYD 2.1 billion ($1.5 billion).
Reuters reports that oil revenues were nearly three times more than in 2016 (which was $4.8 billion), allowing Libya to halve its budget deficit from from 20.3 billion dinars to 10.6 billion Libyan dinars ($7.85 billion).
(Sources: Central Bank of Libya, Reuters)
