Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Diversification Prospects for Sustainable Libyan Economic Growth

Diversification Prospects for Sustainable Libyan Economic Growth

Alabed Mohamed Ali Mohamed

Paperback

Business General

ISBN10: 3659710369
ISBN13: 9783659710360
Publisher: Lap Lambert Academic Pub
Published: May 12 2015
Pages: 392
Weight: 1.26
Height: 0.87 Width: 6.00 Depth: 9.00
Language: English
In recent years Libya has faced an externally economic problem. Its main difficulty in sustaining economic growth is not capital shortage. Capital and foreign exchange are continuously earned and accumulated as a result of exporting of oil. However, the economic development was not as impressive as it should have been. What may go seriously wrong is the large extent of dependency on oil exports, where in this illustration Libya would be a manifest case. Yet, Libya has been unable to adequately distribute its GDP across a wide range of productive sectors.This concern highlights the earlier awareness to the risks of oil resource depletion which could compromise the future of Libyan economy.There should be strong linkage between the domestic primary production sector and the industries sector to introduce value-added in manufacturing and services to ensure that its revenues from oil are well managed and that the oil is well integrated with rest of the economy.This is to say, instead of having a growth of Gross Domestic Product (GDP) from the expansion of a single sector, the diversification as used by economists will imply allowing other sectors to contribute to growth of the GDP.

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