Libya: public finances

How much does the Libyan state earn and spend?

State revenue in Libya was 114.5 billion dinars and spending 88.6 billion dinars from 1 January to 30 September 2026, according to the Central Bank of Libya statement on revenue and expenditure. Oil sales brought in 94.2 billion dinars and oil royalties 17.4 billion; taxes raised 2 billion and customs 263.2 million.

Salaries were the largest item of spending, at 60.6 billion dinars, followed by subsidies at 14.3 billion, operating costs at 12.1 billion and development at 1.6 billion. The statement covers revenue and spending that pass through the Central Bank, which is why it can differ from the IMF's general government figures.

Official sources: Central Bank of Libya statement on revenue and expenditure

How big is Libya's government debt?

Libya's general government gross debt was 153.8% of GDP in 2025, according to the IMF World Economic Outlook database, up from 115.3% in 2024 and 77.6% in 2022. The IMF projects 125.2% for 2026.

The same database shows a general government deficit of 30.5% of GDP in 2025, after 25.9% in 2024, and projects 22.5% in 2026. These are IMF estimates using a common definition; they cover all of general government and may treat spending and financing differently from the Central Bank's revenue and expenditure statement.

Official sources: IMF World Economic Outlook database · same database

How much tax does Libya collect?

Libya's state budget received 2,495.5 million dinars in taxes and 353.0 million in customs duties in 2024, according to Central Bank of Libya figures in the Bureau of Statistics and Census Statistical Book 2024. Tax revenue was 2,413.3 million dinars in 2023 and 633.0 million in 2020.

Taxes and customs are small next to oil: in 2023 oil revenue was 121,692.3 million dinars and non-oil revenue 4,225.4 million, out of total revenue of 125,917.7 million. The table of non-oil revenue also has an "other" line, which was 30,872.5 million dinars in 2024. Revenue figures are actual collections recorded by the Central Bank.

Official sources: Statistical Book 2024

How much does Libya spend on subsidies?

Libya's spending on subsidies and price stabilisation was 20,000 million dinars in 2023, according to Central Bank of Libya figures in the Bureau of Statistics and Census Statistical Book 2024. It was 20,038.0 million in 2022 and 20,830.3 million in 2021.

In 2023 the largest items were the children's allowance (6,730.8 million dinars), electricity and public lighting (4,385.0 million) and medicines (4,149.5 million). Water and sanitation took 580.0 million and public cleaning 750.0 million. The fuel line, 4,990.0 million dinars in 2022, shows no spending in 2023 or 2024. Subsidies were the second-largest item of state spending after salaries in 2026, according to the Central Bank's monthly statement.

Official sources: Statistical Book 2024

How much money is in circulation in Libya?

Libya's money supply was 158,107.9 million dinars at the end of 2024, according to Central Bank of Libya figures in the Bureau of Statistics and Census Statistical Book 2024. It was 141,400.2 million in 2023 and 110,338.9 million in 2022.

Currency held outside banks was 48,883.4 million dinars in 2024, against 43,154.0 million a year earlier. Demand deposits, which include deposits of public enterprises at the Central Bank, were 106,966.6 million. Savings and time deposits made up only a small part of the total. Money supply has risen by about 43% since 2022.

Official sources: Statistical Book 2024

What is Libya's national debt?

In 2025, general government gross debt in Libya was 153.8% of GDP, according to the IMF. The peak was 238.0% of GDP in 2020 and the low 1.4% of GDP in 2009. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 52.5% of GDP, and Libya placed 1st highest of 20. World rank, highest first: 4th of 185.

What is Libya's fiscal deficit?

According to the IMF, general government net lending or borrowing in Libya was -30.5% of GDP in 2025 (a deficit). Since 2005 it has ranged from -30.6% of GDP (2014) to 30.4% of GDP (2005). Middle East, North Africa, Afghanistan & Pakistan median: -5.2% of GDP; Libya is 21st highest of 21. World rank, highest first: 187th of 188.

How much revenue does Libya's government raise?

The IMF puts general government revenue in Libya at 71.2% of GDP in 2025. Since 2005 it has ranged from 12.7% of GDP (2016) to 85.8% of GDP (2022). Middle East, North Africa, Afghanistan & Pakistan median: 26.3% of GDP; Libya is 2nd highest of 21. Of 187 countries with 2025 data, 6th highest.

What is Libya's government spending?

The IMF puts general government spending in Libya at 101.7% of GDP in 2025. It is the top of the series, which starts in 2005. It is 1st highest of 21 in Middle East, North Africa, Afghanistan & Pakistan, where the median is 28.7% of GDP. Worldwide: 2nd of 186.

How much does Libya spend on its military?

According to SIPRI, military spending in Libya was 3.6% of GDP in 2023. Since 2005 it has ranged from 0.9% of GDP (2007) to 6.5% of GDP (2014). Middle East, North Africa, Afghanistan & Pakistan median: 3.5% of GDP; Libya is 7th highest of 16. World rank, highest first: 14th of 152.