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2008 - Muammar Gaddafi calling for the distribution of oil revenues directly to Libyans, and the dismantling of most of the ministries with retaining only the four of them : defense and Security , Justice and Foreign Affairs.
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2008 - Muammar Gaddafi calling for the distribution of oil revenues directly to Libyans, and the dismantling of most of the ministries with retaining only the four of them : defense and Security , Justice and Foreign Affairs.
News Corruption -
Corruption reports [ Translated with Google
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ARABIC original >>>
Libya : state control of the
economy resulted in the theft and corruption
Qatari newspaper Al-Sharq
In a time when the world financial crisis hit most of the
countries, including the major stronghold of capitalist systems and
invite economists to more state intervention in the economy to deal
with this crisis alone in Libya in 2008 and through its leader
Muammar Gaddafi calling for the distribution of oil revenues
directly to Libyans , and the dismantling of most of the ministries
with retaining only the four of them : defense and Security ,
Justice and Foreign Affairs.
The Muammar Al Gaddafi after accusations by the
administrative system of failing to implement the decisions of the
Libyans , saying that the state control of the economy
resulted in the theft and corruption , and therefore called for the
distribution of the state budget directly to the families
, which he estimated in the range of 500 thousand families , or
three million people evenly by five thousand dinars per month per
family , or by a thousand dinars per month per person .
The reduced senior Libyan officials from the impact of the global
financial crisis on the economy of their country, arguing that that
80% of the Libyan investment is liquidity in deposits that were not
damaged , while the remaining percentage of investments (20 % ) is
for bonds and equities have seen some sort of difference in prices
global level but not recorded in the outcome of any kind of loss of
Libyan funds invested.
However, the Commission Libyan graduate pursuing financial and
economic crisis underscored the need to diversify the currency held
by Libya, the focus in the coming period on direct investment in
the real estate market , which is witnessing a kind of sharp
decline in prices.
The Commission decided to take the same number of controls related
to direct investment in bonds and buy shares in some global
institutions and private companies by focusing on areas such as
economic feasibility of oil , real estate , pharmaceuticals and
others.
The official sources have confirmed the Libyan government that it
allocated $ 150 billion Libyan dinars ( 123.177 billion dollars) to
cover its executive development for the next five years .
The same sources pointed out that this program, which will cover
the period (2008 - 2012) aims to achieve the objectives of public
policies and strategies in various fields of economic, financial,
social and ensures a comprehensive sustainable development for all
sectors .
Thus continued the Libyan state in the restructuring of the economy
, which was adopted and to accelerate the pace by introducing
reforms that have been taken in this area , which include the
promotion of the private sector and the market economy and the
privatization of public institutions and the payment of companies,
institutions and banks to enter the securities market as well as
expand its cooperation with the International Monetary Fund and
achieve progress in the process of accession to the WTO .
According to Libyan sources economical , the editing program of the
national economy aims to increase productivity by expanding the
ownership base of the Libyans in companies and public institutions
and a number of commercial banks that were owned by the state , and
the restructuring of these companies to enable them to become
competitive enterprises and contribute to the welfare .
It is noteworthy that these actions coincided with the launch of
more than 375 state-owned company to privatization and titled for
ways collective participation or in partnership with foreign
investors over the long-term plan until the year 2008.
Libya was launched on this process to broaden the base of ownership
, a new economic system , which is approaching in the applications
of the capitalist system but differs from it in the nature of the
implementation of its dependence on the popular side .
The new economic policy is based on the work of the country in the
direction of stabilizing the economy and create jobs for
researchers and improve it and create alternative sources of income
for the oil to go around export industries , free zones, transit
trade and foreign investment.
Libyan sources say that the new economic approach based on trying
to find new alternative sources of income for the oil upon which
the country currently .
In an attempt to absorb the price increases experienced by the
country and to address the high rate of inflation, which reached a
rate of 7 % due to the surge witnessed in the oil markets over the
past months has taken the Libyan government a series of actions
this year was the abolition of customs duties on all imports of the
country from abroad , and the exemption commodity ration ,
medicines and building materials supply service charges , as well
as reduced fees for analysis and detection on the goods supplied
.
The economic report issued by the Ministry of Economy, Trade and
Investment on the movement of prices in the Libyan market pointed
to a rise in the general price level this year , noting that there
had been a rise in the average prices of 100 items by 8 and 7 %
.
To support these economic measures pursued Libya a new policy in
the field of oil and gas exploration , represented in contracting
with companies operating in this area through the public
announcement of the launch of areas eligible oil and gas in all
sedimentary basins rich in Libya , as part of its aims to increase
its production capacity in this field.
The Libya has offered qualified areas in the oil- ad four rounds ,
competed by international companies from all continents .
Sources responsible institution of Libyan oil that the total area
granted to companies operating in Libya amounted to about 765
thousand square kilometers, 0.78 % of the land and of 595 thousand
square kilometers and 22 % of them in the flooded areas , and an
area of 170 thousand square kilometers .
Saw Libya this year to sign a number of strategic projects with
many international companies valued at more than billions of
dollars in rebuilding its infrastructure , including the
modernization and construction of new airports , and housing
projects huge fleets of commercial aircraft , and dozens of ports
and extending thousands of kilometers of different ways and other
projects.
The keen European countries and companies , which imports the
majority of Libya 's oil exports this year to expand investments in
the energy sector in Libya and raced to the Libyan market to take
advantage of the dozens of economic projects and oil that have
embarked on implementation.
The transformation of the Libyan market to market, a teeming with
various international companies from Europe, Asia and Latin America
to win this trophy after Tripoli directed towards a policy of
market economy and bring about economic reforms and open the
country wide open to foreign investment .
By the end of this year, Libya may be opened up wide to enhance
their status and political and economic relations with various
countries of the world , thus ending the years lived in the
collision and repulsion with a number of European countries in
general and the U.S. in particular.
December 30, 2008 >>>
ARABIC original >>>
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