2024-04-15 17:07:20
The Ministry of Finance of the National Unity Government attributed the current crisis of liquidity scarcity in the country’s banks to parallel spending and the continued printing of counterfeit currency.
The ministry added in a statement in response to the Central Bank’s report on revenues and spending during the year 2024, that failure to stop dealing in counterfeit currency weakened confidence in banks, prompting citizens to refrain from depositing their savings in them.
According to the ministry, some of the credits implemented by the banks were covered through parallel spending, “which made the value of the liquidity disproportionate to the volume of foreign exchange sold by the banks,” according to the statement.
The Ministry said that what was stated in the Central Bank’s report regarding zero telecommunications revenues lacked clarification “because they are resources collected at the end of the year,” and not monthly.
According to the statement, the state’s uses of foreign exchange during the first three months of 2024 did not exceed $984 million, denying that it was $7.1 billion, as announced by the Central Bank.
The ministry said: The Central Bank statement mentioned reduced oil revenues, and did not include the amounts reported by the Oil Corporation.
According to the ministry, the Central Bank’s statement did not include any data on parallel spending “despite the announcement of the unification of the Central Bank.”
It is noteworthy that the Central Bank stated in its statement yesterday that the state’s uses of foreign exchange amounted to 7.1 billion dollars.
The Central Bank said that state revenues during the three months of this year amounted to 23.8 billion dinars, while public spending amounted to 13.5 billion, according to the Central Bank.
Source: Ministry of Finance + Central Bank
2024-04-15 17:07:20