The Central Bank of Libya (CBL) estimates Libya's economy almost doubled in size last year, in real terms, but was still about 25% below 2010 levels.
Protests, sit-ins and closures are having a severe impact on state revenues, according to the head of the national assembly's energy committee, who warns Libya could be "on the way to losing control of the oil sector."
The Ministry of Planning has approved a number of companies to undertake reviews of government contracts worth more than LD100m ($80m).
New figures from the Kuwait-based Arab Investment and Export Credit Guarantee Corporation (AIECGC) rank Libya 14th out of 20 Arab countries in terms of foreign direct investment (FDI) inflows last year.
A recent paper from the International Monetary Fund (IMF) examines the cost of state subsidies in Libya, and urges gradual reform to the system.
Capital spending last year by the government was less than a quarter of 2010 levels, according to new figures, while soaring administrative and subsidies costs suggest future shortfalls in budgets.
Schemes covering healthcare, vocational training and support in the justice and security sectors are in progress, an EU spokesman told The Libya Report.
The Bengazi Economic Council, a new advisory body, was formally established on 11 May, state news agency LANA reports.
The Minister of Economy, Mustafa Abu Fanas, has said that a scheme to remove subsidies is being "finalised" and new monthly payments will be rolled out during Ramadan.
During a visit to Tripoli, the UK Minister for International Development has pledged £2.5m (LD5m) to support small and medium-sized private companies.
Libya's Minister of Economy says he expects growth of 3% this year, a far more modest rate of increase than projected by the IMF.
The two governments have agreed to look at four major cooperation projects, including a refinery in eastern Tunisia, the supply of Libyan crude oil, and gas exploration in border areas.
The Integrity Commission has disbarred the head of the Libyan and Investment Development Company (LIDCO), as well as other other officials from the banking and media sectors.
The two governments have agreed to set up a joint body to develop bilteral trade relations.
A senior official from the World Bank is in Libya to discuss assistance programmes to be run with the government.