Libya: Technical Assistance Report—Public Financial Management Reform Priorities in the New Environment
Electronic Access:
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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. 2013/036
Subject:
Budget execution and treasury management Budget planning and preparation Expenditure Fiscal accounting and reporting Fiscal policy Public financial management (PFM)
English
Publication Date:
February 5, 2013
ISBN/ISSN:
9781475528954/1934-7685
Stock No:
1LBYEA2013001
Pages:
62
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