Albawaba cited Mr Mustafa Abdul Jalil chairman of the National Transitional Council as saying that the Libyan government estimates that its budget deficit will reach USD 10 billion this year leading to serious challenges in paying government employees and the country's energy bill.

Mr Abdul Jalil said that Libya has only reclaimed a minute fraction of its USD 100 billion in assets frozen during last year's bitter revolution. Oil revenues have brought in only USD 4 billion in the past 5 months while government employee wages and the energy bill will cost the government USD 22 billion and USD 14 billion respectively. Therefore, the government estimated that its budget deficit will be around USD 10 billion in 2012.

Mr Abdurrahim El Keib Libya's interim prime minister stated that his government has allocated LYD 12 billion to development efforts, 3 billion of which will go to reconstructing homes demolished or damaged during the 8 month war.

(Sourced from www.albawaba.com)