(MENAFN) The Libyan Prime Minister said that the country will face difficulties to cover the budget expenditure beginning from next month, The Peninsula reported.
The prime minister said: "The budget is based on the assumption that oil revenues flow for the (full) year," adding that the country is heading into a deficit because oil exports are mostly on hold which will lead to problems covering the expenditure.
The country may lose Italy as a gas and oil business partner due to strikes at oil fields and export terminals. Italy imports as much as 25 percent of its oil needs from Libya.
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