Libyan Economy to Shrink in 2014

By John Lee.

A new report from the International Monetary Fund says that Libya's economy is expected to shrink by 19.8 percent this year as a result of the security crisis in the country.

This follows a 13.6 percent fall in GDP in 2013. A growth rate of 15 percent is predicted for 2015.

Inflation is estimated at 4.8 percent this year and 6.3 percent in 2015.

(Sources: IMF)

(GDP image via Shutterstock)

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