[ECONOMY] Libya Superior's Budgetary Report, 2018
Statistics 2017
-
Population: 5,795,856
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GDP: $74,046,640,000
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GDP/Capita: $12,775.79
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Population Growth: 2.73%
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Economic Growth: 2.8%
Statistics 2018
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Population: 5,954,082
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GDP: $76,119,945,920
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GDP/Capita: $12,773
Budget 2018
- The Libyan Federal Budget Is 29% Of GDP [$22,074,784,316]
| Purpose | Allocation |
|---|---|
| Infrastructure & Reconstruction Efforts | $6,070,565,686 - 27.5% |
| Debt Repayment | $5,518,696,079 - 25% |
| Education | $3,531,965,490 - 16% |
| Mandatory Military & Defense Expenditures | $2,207,478,431 - 10% |
| Welfare & Retirement Programs | $1,655,608,823 - 7.5% |
| Medical Services | $1,434,860,980 - 6.5% |
| Government Operations & Mandatory Spending | $1,103,739,215 - 5% |
| Defense Discretionary Spending | $551,869,607 - 2.5% |
| International Commitments & Foreign Aid | $0 - 0% |
| Scientific Grants & Research | $0 - 0% |
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Foreign Reserves Left - ~$76 (Bil.) Of $150 (Bil.) {$25 (Bil.) For Open Use}
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Debt - $33 (Bil.)
Notes
With elections having taken place in Libya Superior this year, the country is headed on the right track. Experiencing it's first positive growth in three years, the aggressive infrastructure and economic diversification package have brought fairly impressive results. Now that the war is over a minor baby boom has hit Libya, increasing the average growth rate slightly. Various trade deals with Tajikistan, Iran, and others regionally have also helped push Libya Superior's economy into the positive.
The GDP/Capita saw marginal increases, but is slowly creeping upwards. The new NGC also approved the budget with slightly lower spending provisions than the Council Of Deputies', stating that we're not at war anymore and that we need to boost industry in Libya, and not take their money. This year was a good year for Libya.
Posted Feb 22, 2016, 4:33 AM UTC