VOL. XXXVII

NO. 18

31-JANUARY-1994

Financial and Banking News

Budget & Revenues

Libya Announces Spending Cuts

The Libyan Government is to reduce expenditure by several billion dollarsduring 1994, according to Prime Minister 'Abd al-'Aziz 'Umar Durdah. Speaking toreporters on 23 January after the General People's Congress had adopted thedraft budget, Mr. Durdah added that, "As a result of the unjust UNsanctions we have been forced to cut our expenses in several domains likeeducation and health"....