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Libyan Newswire

Presidency Council Allocates LD 17.

Presidency Council Allocates LD 17.Tuesday , 2504201714:58:00

9 Billion Public Expenditure for 2017. Tripoli, 25 April 2017(Lana) The Presidency Council of the Government of National Accord has allocated 17.9 billion Libyan dinar ’$12 billion’ as public expenditure for 2017. According to the Presidency Council’s decision ‘permission has been given to the Central Bank for release of LD 17.9 billion to cover public needs and expenditure of state foreign currency balance for the current year, whereby LD 14.9 billion would be released to cover imports, government and public sectors transfers, as well as public sector imports of goods, materials and fuel. LD 3 billion were earmarked to cover personal transfers, according to the decision. According to Article 3 of the decision, the funds would be paid for from foreign currency allocation of 2017, from oil revenues, on the condition that the Central Bank of Libya would undertake to cover to deficit from the foreign currency reserve by a ratio that did not exceed 30% of the total value. =Lana=