Libya's Central Bank has released a statement detailing the country's revenue and expenditure for the period from January to September 2026. The report shows that total revenue reached 114.5 billion Libyan dinars, with oil sales and royalties accounting for the largest share of 111.6 billion dinars. This includes 94.2 billion dinars in oil sales and 17.4 billion dinars in royalties. Other revenue streams include 2 billion dinars in taxes, 263.2 million dinars in customs, and 31.1 million dinars in telecommunications.
The Central Bank reported that total expenditure for the nine-month period was 88.6 billion dinars. The largest expenditure was on salaries and related costs, which totaled 60.6 billion dinars. This was followed by subsidies, which accounted for 14.3 billion dinars, and operational expenses, which were 12.1 billion dinars. The report also noted that only 1.6 billion dinars was allocated for development projects. Furthermore, operational expenses included 5.52 billion dinars for the National Oil Corporation.
The Central Bank also reported a dollar deficit of 4.7 billion for the nine-month period. This was due to revenue from oil sales and royalties totaling 17.6 billion dollars, while actual usage was 22.3 billion dollars. The deficit was covered by returns on the Central Bank's investments, including deposits, bonds, and gold. The bank's total foreign assets stood at 95.0 billion dollars at the end of September 2026, down from 99.4 billion dollars at the end of 2025.
The usage of foreign currency was distributed among various sectors, with commercial banks using 19.34 billion dollars. This included 10.11 billion dollars for documentary credits, 6.51 billion dollars for personal purposes, and 2.68 billion dollars for remittances. The Central Bank's direct usage was 2.98 billion dollars, with the largest allocations being 781 million dollars for the General Electricity Company and 434.5 million dollars for the National Oil Corporation.
The report also highlighted a significant increase in digital payment transactions, with a total value of 865 billion dinars. This was driven by the growth of instant payment services, which recorded transactions worth 348.5 billion dinars through over 8.4 million subscribers. Additionally, 267 billion dinars were transacted through mobile banking applications, and 200.8 billion dinars through fast payment systems.
The number of point-of-sale devices also increased to 227,559, representing a rise of over 77,000 devices compared to 2025. The Central Bank attributed this growth to the increasing adoption of digital payment systems in Libya. The bank's efforts to promote financial inclusion and modernize the payment landscape appear to be yielding positive results.
The Central Bank's report provides valuable insights into Libya's economic performance during the first nine months of 2026. The data highlights the country's ongoing reliance on oil revenue, as well as the challenges posed by a large dollar deficit. Nevertheless, the growth of digital payment systems and the increasing use of electronic transactions suggest a positive trend towards financial modernization.
Key points
- Libya's Central Bank reports a dollar deficit of 4.7 billion for the nine-month period from January to September 2026.
- The country's revenue for the period reached 114.5 billion Libyan dinars, with oil sales and royalties accounting for the largest share.
- Digital payment transactions in Libya increased significantly, with a total value of 865 billion dinars, driven by the growth of instant payment services and mobile banking applications.
