World Bank2013-04-232013-04-232009-09-30https://hdl.handle.net/10986/13258Libya'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).en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTABILITY MECHANISMSACCOUNTINGADEQUATE RESPONSEALLOCATIONANNUAL RATEBALANCE OF PAYMENTSBANK ACCOUNTSBANKING SECTORBANKING SECTOR REFORMBANKING SYSTEMBIDBUDGET ALLOCATIONSBUDGET BALANCEBUDGET CONSTRAINTBUDGET CYCLEBUDGET DECISIONSBUDGET EXECUTIONBUDGET OFFICIALSBUDGET PREPARATIONBUDGET PROCESSBUDGET UNIFICATIONBUDGETARY MANAGEMENTCAPITAL EXPENDITURECAPITAL EXPENDITURESCAPITAL OUTLAYSCASH TRANSFERCASH TRANSFERSCENTRAL BANKCENTRAL GOVERNMENTCIVIL SERVANTSCIVIL SERVICECIVIL SERVICE REFORMCOMPOSITION OF GOVERNMENT SPENDINGCONSUMER PRICE INDEXCPICURRENT ACCOUNT SURPLUSDATA COLLECTIONDEBTDECENTRALIZATIONDECISION MAKINGDEFICITSDEPOSITSDISBURSEMENTSDISCOUNT RATEDISCOUNT RATESDOMESTIC DEMANDDUAL BUDGETINGECONOMIC DEVELOPMENTECONOMIC GROWTHECONOMIC PERFORMANCEEDUCATIONAL ACHIEVEMENTELECTRICITYENVIRONMENTALEXCHANGE RATEEXPENDITURE BUDGETEXPENDITURE ENVELOPEEXPENDITURE GROWTHEXPENDITURE LEVELEXPENDITURE PLANSEXPENDITURE PROGRAMMINGEXPENDITURE PROGRAMSEXPENDITURE RESPONSIBILITYEXPENDITURESFINANCIAL ACCOUNTABILITYFINANCIAL ASSETSFINANCIAL CRISISFINANCIAL MANAGEMENTFINANCIAL MANAGEMENT SYSTEMFINANCIAL SECTORFINANCIAL STABILITYFINANCIAL STATISTICSFISCAL ACCOUNTSFISCAL BALANCEFISCAL DEFICITFISCAL IMBALANCESFISCAL MANAGEMENTFISCAL PATTERNSFISCAL POLICIESFISCAL POLICYFISCAL POSITIONFISCAL STANCEFISCAL SUSTAINABILITYFISHINGFOREIGN BANKSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETFUND MANAGEMENTGOVERNMENT DEBTGOVERNMENT FINANCESGOVERNMENT REVENUEGOVERNMENT REVENUESGROSS DOMESTIC PRODUCTGROWTH RATEHEALTH CAREHEALTH SECTORHEALTH SERVICESHOUSINGHUMAN DEVELOPMENTIMPORT COSTSINFLATIONINFLATION RATESINFLATIONARY PRESSURESINFORMATION SYSTEMINFORMATION TECHNOLOGYINTEREST INCOMEINTEREST RATESINTERGENERATIONAL EQUITYINTERNATIONAL STANDARDSINVESTINGINVESTMENT DECISIONSINVESTMENT PROJECTSJUDICIAL REFORMLABOR FORCELACK OF TRANSPARENCYLEGAL ENVIRONMENTLIQUIDITYLOCAL CURRENCYMACROECONOMIC MODELMACROECONOMIC STABILITYMACROECONOMIC STABILIZATIONMARGINAL COSTMARGINAL COSTSMARKET PRICESMEDIUM-TERM EXPENDITUREMEDIUM-TERM EXPENDITURE FRAMEWORKMINISTRIES OF FINANCEMONETARY FUNDMULTIYEAR PROGRAMMUNICIPALITIESNATIONAL ACCOUNTSNATIONAL DEVELOPMENTNATIONAL INCOMENATIONAL PLANNINGNATURAL RESOURCESNET LENDINGNET PRESENT VALUEOILOIL BOOMOIL PRICEOIL PRICESOIL RESERVEOIL RESERVESOIL RESOURCESPOLICY FORMULATIONPOLITICAL DECENTRALIZATIONPOLITICAL ECONOMYPOPULATION GROWTHPORTFOLIOPRESENT VALUEPRICE INDEXPRICE SENSITIVITYPRIVATE SECTORPRIVATE SECTOR PARTICIPATIONPROGRAMSPROVEN OIL RESERVESPUBLICPUBLIC ADMINISTRATIONPUBLIC ENTITIESPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE PATTERNSPUBLIC EXPENDITURE REVIEWPUBLIC EXPENDITURESPUBLIC INVESTMENTPUBLIC INVESTMENT BUDGETINGPUBLIC INVESTMENT PROGRAMPUBLIC INVESTMENTSPUBLIC RESOURCESPUBLIC SECTORPUBLIC SERVANTSPUBLIC SERVICESPUBLIC SPENDINGPUBLIC UTILITIESPUBLIC WORKSPUBLIC WORKS PROJECTSQUALITY OF EDUCATIONREAL GROWTHREAL INTERESTREAL INTEREST RATEREFORM EFFORTSREFORM PROGRAMRESERVE FUNDRETURNROAD MAINTENANCEROADSSANITATIONSECTOR EXPENDITURESECTORAL ANALYSESSOCIAL EXPENDITURESOCIAL GAINSSOCIAL INDICATORSSOCIAL INFRASTRUCTURESOCIAL PROGRAMSSOCIAL SECURITYSPENDING LEVELSSTAGFLATIONSUSTAINABILITY ANALYSISTAXTAX REVENUETELECOMMUNICATIONSTOTAL EXPENDITURETOTAL EXPENDITURESTOTAL TAX REVENUETRANSPARENCYTYPES OF EXPENDITURESUNCERTAINTYUNIVERSAL ACCESSUSER CHARGESWAGESWorld Bank10.1596/13258