The draft government budget for this year assumes that state revenues will not cover spending, with the amount allocated for salaries and subsidies set to rise compared to 2012.

A report from an International Monetary Fund (IMF) delegation, which recently visited Tripoli, forecasts Libya's non-oil growth to average around 15% annually over the next five years.

Official figures show that inflation eased significantly in 2012, with consumer prices in the final quarter of 2012 lower than during the same period of 2011.

The Benghazi Local Council has signed an agreement to twin the city with Istanbul, and cooperate in environmental, cultural and local governance affairs.

A group of managers from Libya's General Authority for Privatisation and Investment Promotion has visited the French regional development agency in Paris.

On a recent visit to Ankara, prime minister Ali Zeidan repeated earlier promises that the Libyan government would pay half of outstanding payments owed to Turkish firms working on projects in Libya prior to 2011.

A ministerial committee has met to discuss the possibility of increasing state salaries and replacing subsidies with direct financial support.

A newly-formed council in Benghazi aims to catalyse economic growth in the city.

Libya has joined the World Association of Investment Promotion Agencies (WAIPA), a Geneva-based organisation comprised of various national investment promotion bodies.

The proposed state budget for 2013 has been set at LD66bn ($53bn), slightly lower than the record LD68.5bn ($55bn) allocated last year.

The head of the government-administrated marriage fund has specified the criteria that Libyan citizens are required to meet in order qualify for grants.

A commitee of specialists from several ministries and government agencies is reportedly working on a plan to replace Libya's unwieldy system of state subsidies with direct payments.

The General Authority for Privatisation and Investment Promotion has officially opened its new Eastern Region office in Benghazi, which aims to provide a range of services to investors.

According to comments carried in the Saudi press, Libya's oil and gas minister says that the government may introduce a special investment incentive for Gulf companies.

The General Authority for Investment Promotion and Privatisation has officially opened its central region office in Misrata.