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Libya
PUBLIC FINANCE AND BANKING
As of early 1985, the public sector consisted of the central
government, the municipalities, and the state organizations and
agencies. (Before 1975 the public sector included the provinces,
but these were abolished as political units in that year.) Municipalities
had their own sources of revenue, but most of their budgets were
covered by transfers from the central government. Of the numerous
public entities, some were profitable and contributed surpluses
to the treasury, but others required transfers from the central
government to meet their expenses. On a consolidated basis, the
public enterprises had an overall surplus of LD25 million. However,
in both 1983 and 1984, public enterprises operated at a net loss.
Data as of 1987
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