Tag Archives | GDP

GDP to Shrink this year, then Recover

By John Lee. A new report from the International Monetary Fund (IMF) has forecast that the Libyan economy will contract dramatically this year due to continuing civil war in the country. In its October World Economic Outlook, it says that Libya's gross domestic product (GDP) is expected to shrink by 19.8 percent this year. The […]

Economy to Shrink by 5%

The International Monetary Fund (IMF) has re-confirmed that the Libyan economy is forecast to fall by 5.1 percent in 2013 due to the disruptions in oil production. Launching the IMF's Regional Economic Outlook report in Dubai, Masood Ahmed (pictured), the IMF Middle East and Central Asia director, said the government will also experience a budget […]