Twenty-nine young men and women from across Libya joined UNSMIL’s economic experts in person and online in workshops to discuss the challenges facing Libya’s economy and share their ideas for overcoming them.
The participants, including 10 women and 19 men, overwhelmingly emphasized the necessity of political stability as a fundamental requirement for economic recovery. However, many also highlighted the urgent need for improved governance, stronger accountability, and decisive measures to curb widespread corruption.
“We cannot talk about having a sustainable economy with the level of corruption we have now,” said one female participant, stressing the need for policy reforms to enhance accountability and transparency.
Another participant noted growing distrust among youth toward state institutions. “Many young people do not believe that institutions are accountable or performing effectively,” he said.
Concerns over corruption dominated discussions, with several participants pointing to the lack of concrete actions to combat the issue. “The wealth stolen over the years could have rehabilitated half the country,” one male participant remarked. Another shared his frustrations over economic hardships, saying, “I am a graduate with no job, no car, and don’t benefit from fuel subsidies. We need clear guidance from the government on how to address the removal of fuel subsidies.”
Participants also explored the role of digital technology in improving the business environment and enhancing public sector accountability. While many saw potential in digital solutions, they emphasized the need for better financial support and training to help young Libyans align with labor market demands. The discussions underscored the urgent call for structural reforms, as Libya’s youth continue to seek clarity and action from policymakers to foster economic stability and growth.
They recommended the following to improve the economic situation in Libya:
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Libyan authorities need to diversify the economy away from oil to other sources of revenue such as tourism, services, renewable energy and agriculture and there needs to be an equitable, accountable and generation-sensitive management of Libya’s wealth.
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More could be done to leverage Libya’s geographic location for trade and transit.
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Policies and regulations governing contracting and private investment need to be updated and the processes need to be made transparent to prevent and reduce corruption.
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Libyan authorities should streamline the process for establishing a business and launch business incubators in all municipalities to promote entrepreneurship, attract private investment and expand training for young entrepreneurship.
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Foreign currency issues must be addressed to ensure that businesses have access to necessary funds and resources to operate effectively. Additionally, tax laws should be enforced, with focus on pursuing those who attempt evading tax.
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Implement awareness campaigns on entrepreneurship, worker’s rights and women’s economic participation to promote inclusivity and empowerment within communities.
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Develop digital technology capabilities and infrastructure to strengthen the private sector while equipping young people with the right skills needed to seize emerging opportunities.
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Introduce technology to monitor government performance in key economic and financial areas and have data made publicly available.
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Replace the fuel subsidy system to ensure fiscal sustainability and reduce the profits for armed groups and criminal networks.
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Address the growing employment issue in the public sector through performance management.
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Involve women, youth, and people with disabilities in the formulation process of economic policies to create a sustainable and inclusive economy.
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Enhance the integration between the labour market and educational institutions to ensure graduates are fully prepared for their careers.
“We need a permanent constitution that not only includes but also legislates economic diversification,” said a participant.
“There is an ample opportunity for youth to become innovators, create businesses, but schools, universities and civic spaces need to be utilized more effectively,” said another participant. She added that “sustainable security and stability through elections are crucial for economic growth. The security we have now is fragile – if it collapses, all efforts could be lost.”
Distributed by APO Group on behalf of United Nations Support Mission in Libya (UNSMIL).
