Middle East Economic Survey
VOL. XLVIII
No 12
21-March-2005
LIBYA
Oil Sector Bolsters Libyan Economy In 2003-04, Says IMF
Libyas oil-dependent economy grew strongly in 2003 as a 28% rise in oil production boosted real GDP growth to 9%, according to the IMFs latest Article IV assessment issued on 8 March. The favorable oil market continued into 2004, but growth is projected to have slowed to 4.5% as oil production growth slowed. Meanwhile, non-oil real GDP growth is estimated at 3% for 2004. The...
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