23 Hrs
Source:
عين ليبيا
Libyan revenue impacts and corruption
The article discussed the widespread corruption and mismanagement of public funds in Libya against the backdrop of institutional division and excessive reliance on oil revenues. It pointed out that revenues from the beginning of 2026 amounted to approximately 98.98 billion dinars, compared to expenditures of 68.61 billion dinars, with the majority of spending directed toward current expenditures, while developmental spending remained weak at 912.8 million dinars. Experts emphasized that unifying the budget requires an effective oversight mechanism and priority setting, noting risks from smuggling networks in the fuel sector, where subsidies accounted for about 25% of total public spending in 2024. The investigation also revealed manipulation in payrolls and employee records, alongside a weak investment environment and the decline of vital sectors such as health and education. Additionally, Transparency International ranked Libya among the most corrupt countries globally. In conclusion, experts stressed that the solution lies in improving revenue management and transforming it into sustainable investments and services through reforms like subsidy adjustments, unified oversight, a better business environment, and infrastructure development.
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