Socialist People's Libyan Arab Jamahiriya : A Public Expenditure Review, Volume 2. Main Report

Socialist People's Libyan Arab Jamahiriya : A Public Expenditure Review, Volume 2. Main Report

Libya's 2008-12 development programs is the biggest and most ambitious Public Investment Program (PIP) ever. Public expenditure has also been pro-poor. Past outcomes show that Libyan authorities have worked on their macroeconomic and social fu...

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Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCOUNTING ADEQUATE RESPONSE ALLOCATION ANNUAL RATE BALANCE OF PAYMENTS BANK ACCOUNTS BANKING SECTOR BANKING SECTOR REFORM BANKING SYSTEM BID BUDGET ALLOCATIONS BUDGET BALANCE BUDGET CONSTRAINT BUDGET CYCLE BUDGET DECISIONS BUDGET EXECUTION BUDGET OFFICIALS BUDGET PREPARATION BUDGET PROCESS BUDGET UNIFICATION BUDGETARY MANAGEMENT CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL OUTLAYS CASH TRANSFER CASH TRANSFERS CENTRAL BANK CENTRAL GOVERNMENT CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE REFORM COMPOSITION OF GOVERNMENT SPENDING CONSUMER PRICE INDEX CPI CURRENT ACCOUNT SURPLUS DATA COLLECTION DEBT DECENTRALIZATION DECISION MAKING DEFICITS DEPOSITS DISBURSEMENTS DISCOUNT RATE DISCOUNT RATES DOMESTIC DEMAND DUAL BUDGETING ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE EDUCATIONAL ACHIEVEMENT ELECTRICITY ENVIRONMENTAL EXCHANGE RATE EXPENDITURE BUDGET EXPENDITURE ENVELOPE EXPENDITURE GROWTH EXPENDITURE LEVEL EXPENDITURE PLANS EXPENDITURE PROGRAMMING EXPENDITURE PROGRAMS EXPENDITURE RESPONSIBILITY EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEM FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL STATISTICS FISCAL ACCOUNTS FISCAL BALANCE FISCAL DEFICIT FISCAL IMBALANCES FISCAL MANAGEMENT FISCAL PATTERNS FISCAL POLICIES FISCAL POLICY FISCAL POSITION FISCAL STANCE FISCAL SUSTAINABILITY FISHING FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FUND MANAGEMENT GOVERNMENT DEBT GOVERNMENT FINANCES GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH CARE HEALTH SECTOR HEALTH SERVICES HOUSING HUMAN DEVELOPMENT IMPORT COSTS INFLATION INFLATION RATES INFLATIONARY PRESSURES INFORMATION SYSTEM INFORMATION TECHNOLOGY INTEREST INCOME INTEREST RATES INTERGENERATIONAL EQUITY INTERNATIONAL STANDARDS INVESTING INVESTMENT DECISIONS INVESTMENT PROJECTS JUDICIAL REFORM LABOR FORCE LACK OF TRANSPARENCY LEGAL ENVIRONMENT LIQUIDITY LOCAL CURRENCY MACROECONOMIC MODEL MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARGINAL COST MARGINAL COSTS MARKET PRICES MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MINISTRIES OF FINANCE MONETARY FUND MULTIYEAR PROGRAM MUNICIPALITIES NATIONAL ACCOUNTS NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL PLANNING NATURAL RESOURCES NET LENDING NET PRESENT VALUE OIL OIL BOOM OIL PRICE OIL PRICES OIL RESERVE OIL RESERVES OIL RESOURCES POLICY FORMULATION POLITICAL DECENTRALIZATION POLITICAL ECONOMY POPULATION GROWTH PORTFOLIO PRESENT VALUE PRICE INDEX PRICE SENSITIVITY PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROGRAMS PROVEN OIL RESERVES PUBLIC PUBLIC ADMINISTRATION PUBLIC ENTITIES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE PATTERNS PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC INVESTMENT PUBLIC INVESTMENT BUDGETING PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVANTS PUBLIC SERVICES PUBLIC SPENDING PUBLIC UTILITIES PUBLIC WORKS PUBLIC WORKS PROJECTS QUALITY OF EDUCATION REAL GROWTH REAL INTEREST REAL INTEREST RATE REFORM EFFORTS REFORM PROGRAM RESERVE FUND RETURN ROAD MAINTENANCE ROADS SANITATION SECTOR EXPENDITURE SECTORAL ANALYSES SOCIAL EXPENDITURE SOCIAL GAINS SOCIAL INDICATORS SOCIAL INFRASTRUCTURE SOCIAL PROGRAMS SOCIAL SECURITY SPENDING LEVELS STAGFLATION SUSTAINABILITY ANALYSIS TAX TAX REVENUE TELECOMMUNICATIONS TOTAL EXPENDITURE TOTAL EXPENDITURES TOTAL TAX REVENUE TRANSPARENCY TYPES OF EXPENDITURES UNCERTAINTY UNIVERSAL ACCESS USER CHARGES WAGES
Online Access:	http://documents.worldbank.org/curated/en/2009/09/17235182/socialist-peoples-libyan-arab-jamahiriya-public-expenditure-review-vol-2-3-main-report http://hdl.handle.net/10986/13258

Description
Summary:	Libya's 2008-12 development programs is the biggest and most ambitious Public Investment Program (PIP) ever. Public expenditure has also been pro-poor. Past outcomes show that Libyan authorities have worked on their macroeconomic and social fundamentals, so as to have a solid base to sustain its steady progress toward building a market-based economy and reintegrating into the world economy. Making optimal use of a sizable public expenditure, and especially public investment, is an essential component of achieving this strategy. The reports built upon the framework of fiscal management in oil-dependent economies, which features three parts. The first deals with collecting and saving oil revenues, leading to one stream of a large literature exploring both fiscal sustainability and the pros and cons of alternative models of an oil stabilization fund. The second deals with development spending, leading to a second stream of a large literature assessing standards in public investment and the many effects of sizable public investment programs. The third deals with financing current spending, such as wages, subsidies, or social programs, addressing the ongoing civil service reform and the Wealth Distribution Program (WDP).

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