ECONOMIC TRENDS: LIBYA.

The article reports that Libyan government decided to lay off 400,000 state employees to ease budgetary strains and encourage private sector investments in the country. Prime Minister Al-Baghdadi Ali al-Mahmoudi said that it is necessary to cut back the dinar 4 billion (euro2.5 billion) spent on salaries over the national budget. Furthermore, Libyan workers have no labor rights and there is no exist trade union that would challenge a public employer in the country.