LIA Reports Low Revenues of US$ 331 in 2016
The Libya Herald reports that the Libyan Investment Authority (LIA) has reported that it made returns of US $ 331 million in 2016.
The LIA declared that it had made returns on its investments amounting to US$ 219 million in the form of dividends from its Equity Investment Portfolio. In addition, it made US$ 112 million as income from financial deposits last year. The LIA expects that these returns will ‘‘further increase in 2017 especially with the expected recovery of the Euro against the US Dollar’’.
The LIA indicated that these returns were ‘‘deposited in LIA accounts abroad in order to reinvest them as Term Deposits for the purpose of increasing the wealth of future generations of the Libyan People’’. It further stressed that the LIA ‘‘continuously follows up on its investments abroad and has never stopped doing so’’.
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