Enhancing Economic Stability
New fiscal revenue sources need to be identified to reduce the dependency of government finances on oil and gas revenues and increase spending capacity. A more stable and predictable fiscal revenue stream will enable more effective economic planning and allow Libya to meet increasing budgetary commitments. While sovereign wealth funds, such as the Libyan Investment Authority, have been used to balance the budget and finance development, other potential mechanisms for decoupling economic growth from oil price volatility need to be considered.
Transformation Projects for Enhancing Economic Stability