Libya loses $ 107 billion due to oil fields shutdown

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Libya loses $ 107 billion due to oil fields shutdown

April 29, 2017 - 12:39
Written by: AbdullahBenIbrahim

Libya has lost $107 billion (LYD 150 billion) from the closure of oil fields and ports in mid-2013 up to December 2016, the Libyan Audit Bureau’s 2016 report has shown.

The report indicated that state revenues for 2016 were less than LYD 8.6 billion, while expenditure has hit LYD 30 billion. A deficit of LYD 21 billion was recorded, bringing the cumulative shortfall between 2012-2016 to LYD 57 billion. 

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