Libya: Technical Assistance Report—Public Financial Management Reform Priorities in the New Environment
International Monetary Fund. Fiscal Affairs Dept.
Feb 2013 · International Monetary Fund
Ebook
62
Pages
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About this ebook
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.
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