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Libya Economic Outlook

  • Real GDP growth was -8.1% in 2016, against -10.1% the previous year, due to a slight improvement in oil production, and is expected to recover to -4.9% in 2017 following exemption from OPEC’s supply cap, the recapture of eastern ports and reopening of oil pipelines.
  • A persistent struggle for power has prevented the rival governments from converging towards common ground.
  • Political instability, humanitarian crisis and security issues continue to hinder efforts to re-establish control over the economy and most national strategies, including those related to industrialisation and entrepreneurship, have remained on hold.

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Key Facts

Capital: Tripoli
Area: 1,760,000 sq km
Total Population 2017: 6.4 Million
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 47.8 Billion
GNI Per Capita 2015: US$ 6,030
Inflation Rate: 13.00%
Crude Birth Rate (per 1000): 19.10%
Human Development Index (rank / 188): 102
Human Development Index (scale 0 to 1): 0.716
Membership Date: 21/07/1972
Cumulative Approvals (1967-2016): UA 0.6 Million

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Regional Development, Integration and Business Delivery Office (RDIB)

Director General, Mr. Mohamed El Azizi

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

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