Series: IMF Working Papers
Author(s): Carlos Caceres , Serhan Cevik , Ricardo Fenochietto , and Borja Gracia
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 27 March 2013
Keywords: Fiscal policy, cyclical adjustment, fiscal sustainability, permanent income hypothesis, fiscal rules, natural resources, public financial management, fiscal stance, primary deficit, Structure and Scope of Government
Libya is highly dependent on exhaustible and volatile hydrocarbon resources, which constitute the bulk of government revenues. Although resource wealth provides the means to promote socio-economic development, proc...