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Libya's political crises are disrupting the frontier of oil and gas... The maker of economic and

Libya's political crises are disrupting the frontier of oil and gas... The maker of economic and social development

Libya The developing country continues to suffer from economic, social and political crises, suffering from the legacy of the heavy political past years, a legacy of the Libyan political elites in their successive regimes.

Libya has passed from colonialism to constitutional monarchy to the reactions of the Libyan national revolutions, one of which was a coup in the name of the September Revolution of September on the constitutional legitimacy and the other was a great popular revolution in the name of the February revolution to bring about the comprehensive and complete change in the country.

Libya is showing signs of these dangerous changes by revealing the many factors of backwardness in Libyan society and arranging the political agreements to face the backwardness witnessed by Libya today.

In every sector of the Libyan state, there is a lack of distribution of the Libyan nation's wealth in a fair manner among citizens by the Libyan state institutions.

After several years of the glorious revolution of February, Libyan national economy was not liberated from monopoly and limited wealth in a set of democracies that had no meaning in the Libyan political arena.

Libya's wealth has not invested a good and correct investment manner by the Libyan financial institutions, in the participation of private and public investment companies, locally and in foreign countries, to benefit directly the economy of the Libyan state.

Investments exploited in the real working product (all workers) and the marginalization of the Libyan economic and social development, by the maker of oil and gas in establishing a solid economic base between the private and public sectors.

As a result, the oil sector is lagging behind in Libya and is unable to join the developed countries, and therefore, the Libyan oil industry is requesting foreign aid to maintain, renew, modernize and rebuild the oil industry in Libya.

Today Libya seeking the needs of the domestic Libyan oil and gas industry, to obtain revenue from oil and gas revenues to properly build the modern Libyan state.

Revenues obtained to support other public sectors such as the various industries, agriculture, and tourism in partnership with the Libyan private sector in the overall economic development and the assistance of the private projects will ultimately ease the burden on the Libyan state.

Development projects must not be monopolized by the state or by the private sector, but rather, they should be in the double-edged economy in Libya.

An economic system that should allow individuals to own their production tools with special ownership that results in funds being re-pumped into the Libyan national economy, without the funds leaving the country by way of laundering for investments abroad.

Alleviation of unemployment and poverty rates is a necessity by developing solid and sound Libyan state economy, an economy that does not adopt a unilateral economic approach.

The state of Libya is often dependent on one source of income, the oil and gas sector and neglect the importance of the private sector investments, which leads to worsening reality of the Libyan economy.

This makes the private segment of society to think of laundering their money outside the country, aspired to a foreign investment such as Egypt, Turkey and other European countries in search of investment gains, leaving their investments in Libya, which makes the government sector import from foreign nations to meet the demands Libyan society.

This action causes the state of Libya to drain its financial resources hard currency to meet the shortage of their needs, which argues most traders in Libya to deal and seek the parallel markets to obtain hard currency to manage their business.

Libya is a country that relies on the basic resources of oil in the extraction of hard currency just about 95% to form the basis of revenues, thus neglecting the other industries such as agriculture and other economic activities, which adversely affects the economic and social situation and contribute higher rate of unemployment.

The contribution of the Libyan state is disguised unemployment in the Libyan government departments to the unprecedented increase in demand for appointments in the government sectors, especially in the Libyan oil sector, which gives salaries and privileges from other departments.

The spread of administrative and financial corruption in Libya is an unprecedented phenomenon because of the appointments of the Libyan state.

The dismantling of the unemployment crisis is t develop strategic plans that introduce economic and financial reform programs to prevent the fatigue of the operational budget, to put an end to the rampant corruption in the Libyan state.

An economic program, that uses the financial income resources of Libyan oil and gas in the presence of economic alternatives which address the current problems and impact on investment and development other sectors to offer economic and social development through banks operating in Libya.

Thus we use the revenues of the state, especially Libyan oil and gas, in the development and exit of Libya from a country dependent on the oil and gas sector.

Libya must encourage the high level of the private sector to become involved in the construction and development for the purpose of supporting Libyan to reach the level Developed countries leave developing countries backward.

By Ramzi Mavrakis


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