Libya: Selected Issues

May 31, 2013

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Format: Chicago

Libya: Selected Issues, (USA: International Monetary Fund, 2013) accessed December 21, 2024

Summary

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.

Subject: Consumption, Energy pricing, Energy subsidies, Expenditure, Fuel prices, Inflation, National accounts, Prices

Keywords: Africa, Consumption, Cost recovery, CR, East Africa, Energy pricing, Energy subsidies, Fuel price Subsidies, Fuel price subsidy, Fuel prices, Inflation, ISCR, Middle East, North Africa, Petroleum product price, Price distortion, Price elasticity, Price Subsidies, Recovery of electricity, Subsidized price

Publication Details

Pages:

14
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/151
Stock No:

1LBYEA2013003
ISBN:

9781484387399
ISSN:

1934-7685

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