Libya facing LYD 3.4 billion budget deficit in first quarter of 2017

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Libya facing LYD 3.4 billion budget deficit in first quarter of 2017

April 09, 2017 - 14:05
Written by: AbdullahBenIbrahim

The Finance Ministry of UN-installed government has recorded a deficit of LYD 3.4 billion for the first quarter of 2017 state budget.  The ministry said the deficit is driven by a 44% lack of oil resources, which amounted to LYD 2.5 billion. It added that fuel subsides have reached LYD 1 billion in the first three months of this year, while telecommunications deficit has reached 100%.