Libya recorded a Government Budget surplus equal to 8.50 percent of the country's Gross Domestic Product in 2023. Government Budget in Libya averaged 4.86 percent of GDP from 2003 until 2023, reaching an all time high of 38.20 percent of GDP in 2005 and a record low of -30.50 percent of GDP in 2014. source: Central Bank of Lybia

Government Budget in Libya is expected to reach 8.20 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Libya Government Budget is projected to trend around 6.50 percent of GDP in 2025, according to our econometric models.



Related Last Previous Unit Reference
Fiscal Expenditure 123194.00 125726.40 LYD Million Dec 2024
Government Budget 8.50 23.60 percent of GDP Dec 2023
Government Budget Value -337.10 191.30 LYD Million Dec 2024
Government Revenues 123531.10 125917.70 LYD Million Dec 2024
Holidays



Libya Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
8.50 23.60 38.20 -30.50 2003 - 2023 percent of GDP Yearly