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Libya’s Economic Outlook

Hit by the ongoing conflict, the Libyan economy continued to suffer from recession in 2016.

Tripoli, Libya - Gimas / Shutterstock.com

REGION

Economic Prospects

Growth in the Middle East and North Africa region is projected to fall to 2.1 percent in 2017.

Jobs Report

Assessment of the labor market

Jobs and private sector growth will be critical for stability in Libya.

Libya At-A-Glance

The cost of the political conflict has taken a severe toll on the Libyan economy, which has remained in recession for the third consecutive year in 2015. Political strife, weak security conditions, and blockaded oil infrastructures continue to constrain the supply side of the economy. Production of crude oil fell to around 0.4 million barrels per day (bpd) or the fourth of potential. The non-hydrocarb...

Overview

Data

Libya’s Economic Outlook

Hit by the ongoing conflict, the Libyan economy continued to suffer from recession in 2016. It is estimated that GDP lost half of its pre-revolution level. Budget revenues and exports proceeds reached the lowest amounts on record because of low oil production and prices.

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