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Libya Economic Outlook

  • Oil production fell during the first half of 2014 and GDP declined by 19.8%, but production levels began to recover during the third quarter of 2014, so GDP is expected to rebound by 14.5% in 2015, if agreement is achieved to open some of the major oil terminals.
  • Political and economic governance have collapsed, with the presence of two rival parliaments and continued control of oil resources by warring militias.
  • Spatial disparities were at the heart of the instabilities that have surfaced since 2011 and an inclusive spatial strategy will be an important determinant of any democratic transition.

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Key Facts

Capital: Tripoli
Area: 1,760,000 sq km
Total Population 2015: 6.2 Million
Urban Population 2015: 78.06%
Female Population 2015: 49.99%
GDP: US$ 82.3 Billion
GNI Per Capita 2015: -
Inflation Rate: 4.00%
Crude Birth Rate (per 1000): 20.69%
Human Development Index (rank / 187): 64
Human Development Index (scale 0 to 1): 0.769
Membership Date: 21/07/1972
Cumulative Approvals (1967-2015): UA 0.6 Million

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Department North Africa Region

Director North Africa Region, Mr. Jacob Kolster

African Development Bank Group
Immeuble Zahrabed
Avenue du Dollar, Les Berges Du Lac II, Tunis 1053, Tunisia

Tel: (+216) 71102953
Fax: (+216) 71194523