Eastern CBL Financial Stability report: Imbalance in state financial discipline (2/2)

By Sami Zaptia.

London, 23 July 2020:

The Financial Stability Unit of Libya’s eastern-based Central Bank of Libya said in its 2017 Annual Financial Stability report that there was an imbalance in the financial discipline of the state during the period 2011-2017.

This indicated that total spending by the Libyan state had exceeded the estimated amounts in the general budget by 51 percent, 61 percent and 70percent, during the period 2014-2016 respectively, so that the estimate of public spending exceeded the financial possibilities available, and was based on the financial needs of . . .

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