Libya: Foreign reserves fall from $105.9 Billion to just $76.6 Billion in one year (2014)

The Tripoli-based Libyan Audit Bureau (LAB) has said that the Central Bank’s foreign reserves fell from $105.9 billion at the start of 2014 to just $76.6 billion at the end of the year.

In its report for 2014, the LAB warns that the dramatic fall in oil revenues, combined with continued spending, could mean that the economy will collapse in less than two years.

Their full report (Arabic version) is attached:

LABR_2014

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s