The GPC says that it has established around 60 industrial zones in Libya in the past year, covering a total of 4,855ha, according to Al Shams.

GPC Secretary Al Baghdadi Ali Al Mahmoudi says the government plans to float a number of public-sector companies and reform some development projects, Al Shams reported in early January.

Shares worth LD5.8bn ($4.6bn) were transferred from the Economic and Social Development Fund (ESDF) to 250,000 low-income families on 6 January under an arrangement to distribute Libya’s economic wealth to the country’s poorer citizens.

The GPC of Planning and Finance has set the state budget for 2011 at LD57bn ($45.6bn), with projected revenues of LD50bn ($40bn) from oil and LD7bn ($5.6bn) from non-oil sources.

The Belarusian ambassador to Libya took a commercial delegation to the Jebel Gharbi region of Libya on 28 December, reported the Al Fajar Al Jadeed newspaper. 

New statistics released by the Central Bank of Libya showed that annual inflation rose to 2.9% in November 2010, up from 2.0% in October. The rise took the overall Consumer Price Index (CPI) to 132.0 against a 2003 base of 100

The eastern branch of the General Authority of Ownership and Investment organised a workshop on 25 December in Benghazi to discuss the role of loans in promoting national investment, according to the Al Jamahiriya newspaper.

The GPC for Industry, Economy and Trade is requesting that Libyan firms complete its registration process in order to be better prepared for tendering, according to the Tripoli Post.

Austria’s third-largest construction company, Porr, announced on 29 November that it would partner with Turkish contractor and developer Renaissance Group, and the Libyan Investment and Development Company (LIDCO), to build a 50,000 seat football stadium in Tripoli.

The IMF has released its preliminary conclusions from its 2010 Article IV consultation on Libya. The discussions took place 17-28 October in Tripoli and have been summarised by the IMF as largely encouraging.

The government-owned Company for Urban Development is registering firms interested in participating in its infrastructure and housing projects, the Al Jamahiriya newspaper has reported.

The African Development Bank (AfDB) and the Libyan Export Promotion Council (LEPC) have launched a project for technical assistance support, according to the AfDB.

The Libyan government has announced that it will increase budget spending by 32% to LD58bn ($46.6bn).