Libya – Diversifying the economy & promoting the private sector

Libya has been implementing a comprehensive reform program driven by theGovernment’s decision to move away from an ownership role in the economy to that of a prudent regulator. The entire economy is undergoing a restructuring, underpinned by widespread public support. The reform program—supported by technical assistance from international institutions and private consulting firms—aims at diversifying the economy away from oil and promoting the role of the private sector. Reflecting the shift in economic policies, a private investment boom is underway and the private sector’s share in the economy is growing at a rapid pace…read more

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