FINANCIAL NEWS

Libya passes USD53.4b budget

15 Mar 2012

(MENAFN) A spokesperson for the Libyan Transitional Council, Mohammed Al-Harizi, reported that the council passed a budget of around USD53.4 billion for the year of 2012, reported SPA.

The interim government in the Arab Spring country would use the majority of the some to cover governmental salaries which total to around twenty billion dollars.

Al-Harizi added that USD12 billion would be allocated for support sectors of food commodities, electricity and fuel and the rest of the approved amount will be spent on other vital sectors.

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