TRIPOLI, Jan. 13 (Xinhua) -- The Central Bank of Libya announced on Monday that the country's total public revenues for 2024 amounted to 123.51 billion Libyan dinars (approximately 24.95 billion U.S. dollars).
Libya's oil sales generated 76.7 billion dinars, with an additional 13.1 billion dinars from oil royalties, the bank said in a statement.
Last year's revenues also included 22.5 billion dinars from fees on foreign currency sales, while the profits of the Central Bank totaled 7 billion dinars, the bank added.
In addition, the country's total expenditures for 2024 amounted to 123.2 billion dinars, of which more than 67 billion dinars were spent on salaries, 22 billion dinars were spent on development projects, while 16.1 billion dinars were spent on subsidized goods, the bank said.
The Libyan economy is mainly based on oil revenues. The country's oil sector suffered from years of armed conflict and repeated closures of oil fields and ports due to military activities and protests.
