Borders, area, ordering. – The borders of the new Libyan state have remained as they were at the time when the Libya was Italian. The border with Algeria, which was uncertain, was fixed in a precise way (Francolibic agreement concluded in Tripoli in 1955), leaving in Algerian territory a large strip located to the west and south-west of Gath, with the wells of Tim Alcum, Acruf, In Ezzàn, Anai, which in the official Italian cartography were included in Libyan territory. The surface, of 1,759,740 km 2, is assigned for 353,000 km 2to the Tripolitan province, for 806,500 to the Cyrenaic one and for just over 600,000 to the Fezzanese one, the three units in which the United Kingdom of Libya is divided not only from the political side, but also from the administrative one. In the legal field, the constitution of December 7, 1951 and the organic law of Tripolitania of December 27, 1952 should be remembered.
Population. – At the Italian census of 1936 it was 839,524 residents, which rose in 1954, despite the exodus of many Italians and Jews, to 1,091,830, of which 746,064 in Tripolitania, 291,328 in Cyrenaica and 54,438 in Fezzàn. The mean population density had therefore passed in the 1936-1954 interval from 0.48 residents per km 2to about 0.60. The Italians residing in the Libya have been gradually decreasing: the 110,000 in 1939 had already reduced in 1954 to 47,000, which in 1956 had still dropped to about 42,000 and to 38,950 in December 1958, almost all residing in Tripolitania; of them, more than half live in urban centers, as traders, artisans, workers in small industrial activities, professionals. The reduction in the number of Jews is also very significant, from almost 28,000 in 1936 to only 5,000 in 1954, above all because they emigrated to the state of Israel (the greatest number of departures occurred in the period 1948-53). The most populous city is Tripoli, which in 1958 revealed to have 172,000 residents, of which 131,415 Libyans (in 1954 the population was 130,238 residents). The number of residents of Benghazi is much lower (70,533 in 1954, that is almost as many as there were in 1939); as for Sébha, the capitol. del Fezzàn, in 1954 the residents were 7193. The other Libyan centers of greater importance, after the three provincial capitals, were: in Tripolitania, Zavia (115,100 residents, in the district), Misurata (66,700, in the distr.), Homs-Cussabat (62,390, in the distr.), Zliten (41,100, in the distr.), Tarhuna (40,600, in the distr.) And Zuara (30,800, in the distr.); in Cyrenaica, Barce (134,200 residents in the district, of which 10,000 in the municipal area), Derna (36,000, in the district), Beida (31,000, in the district), Agedabia (27,700, in the district) and Tobruch (19,000, in the distr.). While Benghazi and Tripoli have for now the functions of residential capital and administrative capital respectively, it is under construction in Cyrenaica, in el Beida, south of Cyrene, on the slopes of Jebel al-Akhdar, a city destined to be the capital. of Libya.
Communications. – There are 360 km of railways, of which 200 are in Tripolitania, and 3544 km of artificial paving roads, including the 1822 km of the coastal road. The vehicles in circulation in 1956 were just over 11,900. The most important airports are those of Tripoli and Benghazi. For Libya travel information, please check zipcodesexplorer.com.
Finances. – Alongside the federal budget, which is submitted to Parliament for approval, are the budgets of the provinces, which use the federal budget for their own expenses.
Revenue for the financial year ending March 31, 1959 was estimated at 12.1 million Libyan Lira, of which 5.4 as federal government revenue, 3.3 as financial aid granted by Great Britain under an agreement of 1958, and 3,4 granted by the United States of America. The expenses relating to the same year have been estimated at 12.4 million Libyan lire; the deficit was covered with sums drawn from reserve funds. The amount of expenses for the financial year from April 1, 1959 to March 31, 1960 is estimated at 13.4 million, of which 5 million from the federal budget, 6.2 million from the budgets of the provinces and the remainder to institutions. for economic development.
With the law n. 30 of 1955 the National Bank of Libya was created, with the aim of providing for the issuance of banknotes, of maintaining reserves with the aim of safeguarding internal monetary stability, of controlling the credit situation for the benefit of the Kingdom, and of acting as banker of the government and provincial administrations. The banking organization was regulated by a law, issued with proclamation no. 211 of November 15, 1950, which in addition to establishing the form and minimum capital that foreign banks must have in order to carry out their business in Libya, established a banking control committee. A complete overhaul of the banking system then began with a new law at the end of 1958; branches of the National Bank for Agriculture have been established in Tripoli and Benghazi.
The fixed exchange rate of the currency (created on March 24, 1952 and equivalent to the British pound) has been established since August 12, 1959 at 0.3571 Libyan pounds per 1 US dollar (1 Libyan pound is equal to 2.80 US dollars). Libya is part of the sterling area.