Cost of conflict in Libya exceeds $576 billion, ESCWA study finds The cost of the conflict in Libya since its outbreak in 2011 exceeds 783 billion Libyan dinars (LYD), i.e. $576 billion according to the official exchange rate (bearing in mind that different rates coexist in the Libyan market). This is one of the key […]
Tag Archives | GDP
Tags: Economic and Social Commission for Western Asia (ESCWA), featured, GDP, United Nations Economic and Social Commission for Western Asia (ESCWA)
Libya GDP Growth of 4% this yr, 6% next
By John Lee. A new report from the World Bank Group forecasts real GDP growth (at constant market prices) of 4 percent this year in Libya, increasing to 6 percent next year: As the oil sector is the major source of growth, economic activities remain constrained by recurrent clashes around oil infrastructure aiming to control […]
Libya: 6.8% Growth Forecast
The World Bank has forecast GDP growth in Libya of 6.8 percent in 2019. In its latest Economic Outlook, it says: Given its high reliance on hydrocarbon activities, the performance of the Libyan economy remains strongly affected by security conditions, especially around the main oil fields and terminals. Improved political and security arrangements reached during […]
Libyan GDP Grew 55% in 2017
According to the WFP's latest Safety Nets Alert Platform (SNAP), the Gross Domestic Product (GDP) in Libya grew up by 55 percent in 2017 from the previous year. The improved performance has been driven by a revival in oil output and a pick-up in global oil prices. Crude Oil Production in Libya decreased slightly to […]
Libya's Economic Outlook: World Bank Predicts 15% Growth
From the World Bank Group. At the current pace of spending in a context of conflict and insecurity, Libya will either exhaust foreign exchange reserves or be forced into ad hoc adjustments necessary to stave off crisis, but far from sufficient to reestablish growth foundations. The economic and social outlook assumes that political strife is […]
Libya’s Economic Outlook - October 2016
A new report from the World Bank says the Libyan economy is near collapse as political stalemate and civil conflict prevent it from fully exploiting its sole natural resource: oil. With oil production just a fifth of potential, revenues have plummeted, pushing fiscal and current account deficits to record highs. With the dinar rapidly losing […]
World Bank Expects Strong Libyan Recovery
The World Bank expects the Libyan economy to recover rapidly in 2016, growing by 35.7 percent, according its flagship "Global Economic Prospects" report released on Wednesday. This follows an estimated fall of 5.2 percent last year, and of nearly 50% over the past three years. Growth rates of 27.6 percent and 8.4 percent are predicted […]
Libyan Economy to Shrink Further
War-torn countries are projected to be among the worst performers in terms of GDP growth in 2016, with Libya forecasted to be in last place. According to the data from the Economist Intelligence Unit, the Libyan economy is expected to shrink by 8.3 percent this year. This comes against a backdrop of 2.7 percent global […]