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State of Libya
In 2022, real GDP contracted sharply, by 12.1%, after growing 28.3% in 2021. The recession was driven by rising conflict and lower performance of hydrocarbon, services, and, to a lesser extent, manufacturing. Inflation increased to 4.6% in 2022 from 2.8% in 2021, following the rise in prices of food and essential goods. As of January 2023, no agreement had been reached on unifying the Central Bank of Libya with its Eastern branch, affecting the country’s monetary policy and banking system. The fiscal surplus rose to 13.8% of GDP in 2022 from 11.3% in 2021, due mainly to higher oil revenue.
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Bank intervention strategy
Building capacity for effective institutions and improved economic infrastructure (energy, water, and agriculture).
The Bank's strategy aims to build effective institutions and improve economic infrastructure. To achieve this, the Bank's intervention mainly involves providing institutional support, technical assistance and advisory services to ministries and other public bodies.
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Contacts
Ms Malinne Blomberg, Deputy Director General for North Africa, Country Manager for Lybia
C/O Ministère des Affaires Economiques et du Développement
3ème étage – Tevragh Zeina (derrière le Palais des Congrès)
B.P. 7653 Nouakchott, Mauritanie
Regional Development, Integration and Business Delivery Office (RDIB)
Mr. Abdulhakim Mohamed ELMISURATI, Executive Director
Mr. Abdulbaset Giuma GWEL, Senior Advisor
Mr. Mohamed M. HAMMA KHATTAR, Advisor/ Alternate ED
African Development Bank Group
Immeuble Zahrabed
Avenue du Dollar, Les Berges Du Lac II, Tunis 1053, Tunisia
Tel: (+216) 71102953
Fax: (+216) 71194523