Libya’s budget allocations for projects remained as low as six percent of total expenditures during the first 11 months of 2025 despite a surge in its oil production.

The Central Bank of Libya (CBL) said in its latest financial report that capital expenditure stood at around 7.2 billion Libyan dinars ($1.3 billion) in the first 11 months of 2025. 

Total spending stood at around LYD107.5 billion ($19.8 billion), most of which (88 percent) was allocated to public servants' wage and subsidies.

Higher crude output boosted the North African OPEC member’s revenues to one of their highest levels, allowing it to record a surplus of around LYD 8 billion ($1.5 billion), CBL report said.

Libya’s oil production rose to a 10-year high of around 1.37 million barrels per day (bpd) during 2025 pushing up oil export revenues to one of their highest levels of around LYD93 billion ($17 billion) in the first 11 months of 2025. Total revenues also surged to nearly LYD115 billion ($21.3 billion).

(Writing by N. Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.