Libya spent $10 billion annually on development
Minister Suhail Bousheha stated that funds were allocated for infrastructure and growth opportunities.
Libya spent an average of $10 billion annually on development over the past four years, according to Economy and Trade Minister Suhail Bousheha. These funds targeted infrastructure development and improving opportunities for growth and investment.
Bousheha made these remarks at the World Investment Forum 2026 in Doha, where he highlighted Libya's strategic importance due to its oil reserves. He stated the government aims to transform resources into productive investments and sustainable economic diversification, moving from recovery to development.
The minister added that the spending aims to enhance the business environment, attract quality investments, and expand partnerships with global companies. New initiatives starting in 2026 reflect Libya's efforts to improve its global investment position and diversify its economy.
Why it mattersLibya's development spending aims to improve the business environment and attract quality investments.