Libya Selected Issues

The cost of energy subsidies is large, and reduces the fiscal space available for public expenditure priorities, including education, health, and infrastructure. Libya's ample hydrocarbon wealth will allow it to reform subsidies while protecting the poor. A gradual phasing out of subsidies woul...

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Bibliographic Details
Corporate Author: International Monetary Fund Middle East and Central Asia Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2013
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Libya  |b Selected Issues 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2013 
300 |a 14 pages 
651 4 |a Libya 
653 |a Energy pricing 
653 |a National accounts 
653 |a Consumption 
653 |a Expenditure 
653 |a Fuel prices 
653 |a Public Finance 
653 |a Deflation 
653 |a Energy subsidies 
653 |a Macroeconomics: Consumption 
653 |a Inflation 
653 |a Expenditures, Public 
653 |a Energy: Demand and Supply 
653 |a Macroeconomics 
653 |a Saving 
653 |a Energy industries & utilities 
653 |a Prices 
653 |a Price Level 
653 |a Wealth 
653 |a Economics 
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520 |a The cost of energy subsidies is large, and reduces the fiscal space available for public expenditure priorities, including education, health, and infrastructure. Libya's ample hydrocarbon wealth will allow it to reform subsidies while protecting the poor. A gradual phasing out of subsidies would allow adjustment in consumption and minimize the inflationary impact, thereby allowing the social assistance system to be strengthened. After a transfer mechanism is in place to facilitate fuel and electricity subsidy reform, food subsidy reform should be undertaken