Libya : Technical Assistance Report—Public Financial Management Reform Priorities in the New Environment

Publication Date: February 05, 2013
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Summary: Libya faces a number of challenges to establishing a robust, efficient, and transparent public financial management system. There is a need to establish a clear macrofiscal policy framework. The Sovereign Wealth Fund (SWF) should be a financing fund system with clear and rigid inflow and outflow rules and should be based on clear and regulated investment criteria. Under the existing legal and regulatory framework, budget expenditures cannot exceed the initial ceilings specified in the annual budget law. This should be strictly enforced.
Series: Country Report No. 13/36
Subject(s): Fiscal policy | Oil revenues | Sovereign wealth funds | Public finance | Financial management | Budgets | Budgeting | Accounting | Payment systems | Technical Assistance | Libya

Publication Date: February 05, 2013
ISBN/ISSN: 9781475528954/1934-7685 Format: Paper
Stock No: 1LBYEA2013001 Pages: 62
US$18.00 (Academic Rate:
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