The Impact of Revenue Fluctuations on Current and Development Expenditures Case Study of Libya 1970- 2006

Rashed Muftah. S. Abdulhadi


The purpose of this study is to examine the impact of revenue fluctuations
on current and development expenditures in Libya. The analysis conducted a time-series framework from 1970 to 2006. The results showed to be evidence that development expenditures experience fluctuations which are positively related to revenue fluctuations. The results also indicate that foreign reserves have helped in insulating current public expenditures from the impact of revenue fluctuations. The study suggests that the government can not continue to finance development and current expenditures because of the fragility of its limited revenue sources, and that private sector is crucial and should be given an opportunity to participate to solve economic problems as an important player in achieving sustainable growth.

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