Libya spent only around 147 million Libyan dinars ($27 million) on projects in the first seven months of 2025 as the bulk of the budget was allocated to current expenditure.

In a report this week, the Libyan central bank said revenues stood at LYD 73.5 billion ($13.6 billion) and expenditure at nearly LYD66 billion ($12.2 billion), creating a surplus of around $1.4 billion.

Oil sales provided the bulk of the country’s revenues, standing at about LYD 61 billion ($11.3 billion). Oil royalty revenues were put at around LYD 11 billion ($2 billion) and the rest came from taxes and government fees.

The report showed salaries to public servants and government subsidies to citizens accounted for most of the expenditures, standing at LYD 42.6 billion ($7.8 billion) and LYD 20.6 billion ($3.8 billion) respectively during that period.

(Editing by Anoop Menon) (anoop.menon@lseg.com) 

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