The Economic development of Libya /

Includes bibliographical references and index.

When an economic survey mission organized by the World Bank arrived in Libya in early 1959, oil development there was still in the exploratory stage, and the principal economic problem seemed to be the country's lack of resources. By the time the mission came to write this report, oil had been discovered in considerable quantities, and Libya's economic outlook was radically changed. These events make the publication of this report particularly opportune, since it discuses the long-term possibilities opened up by the discovery of oil and its impact on the Libyan economy. The mission's main task, however, was to appraise economic progress to date and to put forward specific recommendations for a general economic development program to be undertaken in the next five years. In drawing up this program the mission proceeded on the assumption that while oil offers a long-term prospect of establishing a prosperous economy, it is unlikely in itself to provide employment for more than a small fraction of the Libyan people. The majority must therefore look to other occupations for its livelihood. The remainder of this book is devoted to an examination of policies and programs with that objective in view.

aia 17/10/2018

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