Questions over figures in Central Bank report
LIBYA – Economic analyst Mukhtar Al-Jadeed has raised questions over what he described as a contradiction in the Central Bank of Libya’s report on revenue and spending, following the announcement that a $4.7 billion deficit had been covered.
From $99.4 billion to $95 billion
In a post on his Facebook page, Al-Jadeed noted that the report spoke of covering the deficit, asking how this had been done using gold and why foreign assets had fallen from $99.4 billion to $95 billion despite the announcement that the deficit had been covered.
Call to explain how the deficit was covered
He added that, in his view, if the deficit had indeed been covered, the fall in total foreign assets needed to be explained, and he called for clarification of how gold had been used to cover the deficit and what change in assets had resulted.
