Financial and Banking News
BUDGETS AND REVENUES
Libya's 1988 State Budget Increased by 5.97%
At its annual meeting held in Ras Lanuf on 1-8 March, the Libyan GeneralPeople's Congress (GPC) approved the state budget for 1988 totaling LD4,308mn($14,804mn), up 5.97% from LD4,065mn ($13,969mn) in 1987. While the 1988 budgetis still 20.48% less than the recent peak budget (LD5,418mn in 1985), it is thefirst time in three years that an increase rather than a decrease in the...