17 Hrs
Source:
عين ليبيا
Libyan Economy: Why Rentier Income Surpasses Production
The article discusses the causes and foundations for the continued existence of negative economic phenomena in Libya, such as speculation, smuggling, and employment in the public sector, highlighting the incentives that drive these behaviors. It explains that the gap between the official and parallel exchange rates, along with energy subsidies and high wages, create incentives for illicit profits, while the weak private sector environment and limited oversight further deepen the problem. The article calls for targeted reform of the subsidy system, fiscal discipline, currency unification, and adjustments to the wage system, emphasizing that changing economic incentives is key to reducing these phenomena and achieving economic stability.
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