No Result
View All Result
Tuesday, July 15, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

LEF presents social security initiative to UN to protect Libya’s new poor

bySami Zaptia
March 31, 2017
Reading Time: 2 mins read
A A
LEF presents social security initiative to UN to protect Libya’s new poor

Mohamed Abusneina, CBL

By Sami Zaptia.

Mohamed Abusneina, CBL
Mohamed Abusneina, CBL (Photo: Sami Zaptia, Libya Herald)

Tunis, 30 March 2017:

The Libya Experts Forum (LEF) has presented an initiative to UNSMIL, UNDP and the World Bank on a Libyan Social Protection Strategy.

The proposal was presented today on the first day of the two-day 5th LEF meeting in Tunis by LEF member and Economic Advisor to the Monetary Policy Committee of Central Bank of Libya Mohamed Abusneina.

“If what has been spent on on subsidies in Libya was spent on social protection there would be no poverty in Libya. The present 30-percent inflation rate has made it even more difficult for the poor to survive”, Busneina said.

RELATED POSTS

Aldabaiba proposes three methods of fuel subsidy reform

Libya loses about US$ 12 billion annually in smuggled subsidies: Aldabaiba

He added: “A social protection strategy needs a comprehensive approach and a general input from Libyan society as a whole. Such a policy needs crystallisation by analysing reality and needs an evidence-based needs analysis – in order to create an effective strategy”.

The link between a social protection strategy, subsidy reform ide centralisation and diversification in Libya was highlighted.

“Libya is spending too much of its GDP in the wrong areas”, said Marouane El Abbasi, of the World Bank Libya Desk.

“Not enough is spent on development and creating new revenues. The country needs to diversify it’s economy to create alternative non-oil revenues”, he explained.

It was also explained that most subsidies are in fact consumed by the richer segment of the population. In implementing subsidy reform the products most consumed by the richer strata can be targeted.

This helps to reduce the negative impact on the poorer strata and reduce the risk of social and political destabilisation. By the same measure increasing prices on products most consumed by the poor can be deferred or staggered.

Subsidy reforms had to involve a comprehensive compensation package to the vulnerable to reduce any shocks, Busneina said.

This could include improved public transport to reduce fuel consumption by privately owned cars. It was pointed out that in Libya most household had to own multiple cars as essential means of transport for families with university students and those at work.

 

Tags: LEF Libya Experts ForumLibyaSocial protection strategysubsidy reform

Related Posts

Attorney General orders arrests at Jumhouria bank branch for embezzlement
Libya

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

July 11, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba seeking long term partnership not interim solutions on combatting irregular migration

July 10, 2025
Acting Interior Minister Trabelsi taking steps to counter forged ID numbers and passports
Libya

There are 4 million irregular migrants in Libya: Interior Minister Trabelsi

July 10, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba: Militias have become criminal gangs and a state within the state

July 9, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Libyan Russian Economic Forum starts in St. Petersburg
Libya

Libyan Russian Economic Forum starts in St. Petersburg

June 27, 2025
Next Post
AmCham Libya restarts operations

AmCham Libya restarts operations

Appointments of Qaddafi-era military officials unacceptable Zintan tells Hafter

Appointments of Qaddafi-era military officials unacceptable Zintan tells Hafter

ADVERTISEMENT

Top Stories

  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • Aldabaiba opens First Phase of Tripoli’s Third Ring Road

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Three health centres opened in Benghazi after maintenance and development

Tripoli based Libyan government plans to complete 150,000 housing units by 2030

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.