Libya Ranks First in IMF Index.
Pulbished on:
Tripoli, 8 October 2018(Lana) Libya ranked first in the world in
terms of real GDP growth in 2018, with 16.4% according to an
announcement by the International Monetary Fund IMF.
The IMF has forecast that Libya would be the fastest growing
country this year, citing increasing oil production levels which
could raise revenues by 80% to $24 billion against $13 billion in
2017.
In April the World Bank has predicted Libyan economic growth to
recover by 15% in 2018, and to grow by an average 7.6 between 2019
and 2020. It indicated that the state budget and the balance sheet
would gain surpluses starting from 2020 as foreign reserves grow.
Experts and economic specialists said the figures were not
accurate, given that the IMF focused on oil production growth,
without considering a slowdown in productive sectors including
agriculture, industry and services since 2016.
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