Alkilani al-Jazi has said that the state budget will need supplementing by the end of next month if oil output cuts persist, and suggests reserves could be drawn on.

Sadeeq al-Kabir says the country's foreign exchange and cash reserves should not be used to plug any shortfall in oil revenues.

The Prime Minister and the head of the Tripoli Local Council have given contradictory statements about budgets for the council and the city's cleaning company.

With oil export revenues drying up and petrol imports threatened, Libya's government begins to contemplate cuts to state spending as it faces stark choices in ending the disruption.

The Deputy Governor of the Central Bank of Libya (CBL) says that revenues earlier in the year, before the onset of severe disruption, were substantially over budget thanks to high global oil prices.

All ministries and government bodies have been asked to prepare estimated budgets for next year.

The Economic and Social Development Fund (ESDF), one of the largest public-sector bodies, is set to have a new board of trustees and directors.

Consumer prices rose year-on-year in February and March for the first time since last August, with a jump in food and drink costs accounting for the increase.

The Libya Report talks to the CEO of Libya Holdings about the company’s plans, foreign involvement in the economy and the need for better business laws.

The national assembly says it has approved the transfer of LD424m ($339m) to cover additional state expenses, including salaries for former rebel fighters who have joined the army.

Almost half of Libyan respondents in Transparency International's latest global survey thought corruption had risen over the past two years, with over 60% saying they had paid a bribe to a basic public institution.

The Central Bank of Libya (CBL) estimates Libya's economy almost doubled in size last year, in real terms, but was still about 25% below 2010 levels.

Protests, sit-ins and closures are having a severe impact on state revenues, according to the head of the national assembly's energy committee, who warns Libya could be "on the way to losing control of the oil sector."

The Ministry of Planning has approved a number of companies to undertake reviews of government contracts worth more than LD100m ($80m).

New figures from the Kuwait-based Arab Investment and Export Credit Guarantee Corporation (AIECGC) rank Libya 14th out of 20 Arab countries in terms of foreign direct investment (FDI) inflows last year.