CBL Says Committed to his Role, to Work With Everyone Who Put Country's Interests First.

Tripoli, 30 August 2105(Lana) The Central Bank of Libya has announced that it would continue to carry out its duties, and would work with all who were committed to the protection of the country's resources and combat of corruption. In a statement, a copy of which was obtained by the Libyan news agency, CBL said the reality of the current economic situation in Libya brought about by the sharp decline in oil production to 21% and exports to 15% of the total capacity, as well as the decline of prices to less than $40 the lowest in 6 years, and projected to fall further to $35 this year, would put further pressure on the strength of the Libyan dinar, and threatened to drain our reserves of foreign currency which require all of us to take serious action to return production and eports to former levels, or face the consequences on the economy which could be harsher than they are now. The bank gave a notion of the total revenues and the real expenditure compared to the current projected state budget, and former budgets especially in relation to first section, the public servants salaries, and the other sections of the budget. It highlighted the positive results it was able to achieve against all odds, explaining that the budget deficit was down by 69% compared to the same period of 2014, and a decrease in the total expenditure by 37% compared to the same period 2014. The Bank also expalined the rules and restrictions it imposed, to safeguard the state reserves of foreign currecy and the positive results achieved by these. =Lana