Libya Faces Hurdles Despite Rebound- IMF
Despite a fragmented political landscape and tribal power struggles, Libya’s economy is forging ahead as oil production rises, the IMF said in its latest Article IV consultation published 23 May.
Real GDP shot up 105% in 2012 as hydrocarbon output was rapidly restored. Inflation fell to 6%. This compares with a 62% fall in GDP in 2011. The 2012 budget recorded a surplus of almost 21% of GDP and the current account...