IMF Issues Report on Economic Outlook for Some Countries Including Libya.

Tripoli, 7 May 2105(Lana) The International Monetary Fund has issued a report on economic prospects in the Middle east, North Africa, Afghanistan and Pakistan, in light of the conflicts, the ongoing transition, and the unstable oil prices in these countries. The IMF report monitored the increasing risks, as a result of the ongoing conflict and tensions, considering the large decline in oil prices has led to bog losses in revenues, whereby the oil revenues of non-gulf states would fall by 11% of their gross domestic product, and Libya's share of the losses was 10 billion, or more than 20% of its GDP. According to the report oil exporting countries in average need an oil price of more than $60 a barrel, but Libya needed more than $100 a barrel to balance its budget. The report pointed out that in Libya, fuel prices still were far more cheaper than international levels, and the state hadn't, up until March, announced any new measures at the level of the state public finances policy. The report stresses that spending in Libya is going through a shrinking period, warning at the mean time that reform measures are needed to with regard to removing subsidy on some food items. =Lana=