Unemployment, subsidies, undiversified economy, stifled private sector – problems of Libyan economy: WB

Tripoli, 7 February 2014:

"Libya’s labour market is skewed toward the public sector, which employs more than 80 percent of the formal workforce, while the private sector employs just 4 percent of Libyans", the World Bank reported in its latest January MENA Quarterly Economic Brief.

"Furthermore", the report continued, "attractive wages and benefits offered by the public sector have resulted in high wage expectations among job seekers and university graduates. As a result, the unemployment rate has remained high across the board, though official estimates show a decline in the . . .

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