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Libya Economic Outlook

  • GDP contracted by 6.0% in 2015 but in the event of a resolution to conflict and a rapid resumption of oil production, economic growth could recover quickly.
  • Prospects for a unity government have improved, although the coastal cities of Sirte and Derna remain controlled by the Islamic State.
  • The urban policies adopted in the 1970s have had positive effects on structural transformation, in particular with the impulse of the industrial dynamism of cities like Tobruk, Misrata, Zawya, Al Bayda and Derna.

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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