Wednesday, 28 March 2012
Libya: NOC sets its budget
Additionally, the corporation has proposed a further LYD1 billion development budget, dedicated mostly to potential future upstream projects.
The process of finalising the budget has taken months, mostly because the National Transitional Council (NTC) did not start planning its own overall budget until last December. In mid-March it announced plans to spend a total of LYD68.5 billion in 2012. Of this, LYD19.1 billion (28 per cent) will go on projects, development, and reconstruction. LYD18.67 billion on wages, LYD14.6 billion on fuel and food subsidies, and LYD12.1 billion on operational expenditures.
For more news and expert analysis about Libya, please see Libya Focus and Libya Politics & Security.
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