Post-Gaddafi Libya likely to diversify: WB

RABAT: A post-Qaddafi in Libya would likely seek to diversify its economy and encourage the private sector, regional director of the World Bank announced Wednesday.

"I thought going forward, depending on what the authorities are looking at is to build a modern and environmentally friendly private sector that enables it to diversify its
dependence rich essence into something more sustainable, "Simon Gray, who oversees the Maghreb region, told Reuters when asked how he thought the economy could change if Libya Muammar Gaddafi has left office.

The West has launched an air war on the forces of Gaddafi supporting the rebels who now control part of Libya.

Western leaders say they want Gadhafi to quit his post.

Libyan national oil industry has proved the main engine of the Libyan economy. The country accounted for more than two percent of world production before the war.

The International Monetary Fund has estimated that oil in 2009 and 2010 and gas revenues funded 80 percent of the government budget.

Gray said that the future of economic change in Libya could include "seeking to diversify into chemical fuel themselves," he said. "There are things we considered: tourism, cultural tourism, it There was some talk a little agriculture, food diversification. "

A broader economic base would also reduce the impact of fluctuations in oil prices in Libya, whose reserves are estimated at the world's ninth largest.