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Libya's budget income falls sharply as oil plunges -central bank
December 8, 2014 / 2:27 PM / 3 years ago

Libya's budget income falls sharply as oil plunges -central bank

TRIPOLI, Dec 8 (Reuters) - Libya’s budget income for this year fell to around $15 billion in the period to November from $45 billion a year ago, the central bank said on Monday.

In a statement, it blamed a 40 percent fall in oil prices and the state’s inability to collect customs duties.

Expenditure stood at 38.5 billion Libyan dinars ($30 billion) in the same period. The bank warned the tumble in income was affecting foreign currency reserves but did not elaborate. (Reporting by Ulf Laessing; editing by Patrick Markey)

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