Libya Economic Monitor, Fall 2023
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Washington, DC: World Bank
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Libya’s medium-term growth
and development challenges are major and pressing. Key among
these is to accelerate and stabilize growth: GDP per capita
shrank by 54 percent between 2010 and 2022.
Furthermore, Libya’s economy was among the most volatile
during the past decade due to the conflict, instability, fragmentation, oil export blockades, and weak economic policies. Another challenge is to diversify the
economy to make growth more job-rich, more inclusive to women
and youth and less intensive in carbon. This could be achieved
by strengthening human capital and rebuilding
infrastructure. Building a wide, transparent, and effective
cash transfer system could bea transformational approach to
reform public finances and the public sector and rebuild trust
between citizens and the state. Partly linked to the above is
the challenge to address the transparency and equitable
sharing of oil resources, including to address regional
disparities to reduce risks of conflict and fragility in the
interest of building a lasting peace. Lastly, the overall
institutional and economic policy framework and capacity
need to be strengthened to undertake such major transformation.
Palabras clave
POVERTY AND VULNERABILITY, HEALTH SERVICES, EDUCATION, CLEAN WATER AND SANITATION, ACCESS TO ELECTRICITY, SDG 6