Libya near-balanced its budget in 1H 2018. But this was ‘thanks’ to chronic state weakness that left spending 21% under budget. Revenues were up with higher oil prices, but non-oil revenue remains abysmal.

The UN plans an audit of Libya’s finances in a bid to help tackle corruption. But, if the country’s official finance figures for the first half of 2018 show one thing, it is that central authorities have a firm grasp on neither revenue nor spending.

First half...