US EditionIMF Reports Decline in Libya’s GDP Growth
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IMF Reports Decline in Libya’s GDP Growth
Libya’s real GDP growth dropped significantly to around 2% in 2024, down from 10% in 2023, primarily due to contraction in the hydrocarbon sector, according to the latest International Monetary Fund (IMF) Article IV Consultation. The IMF cited political divisions and weak institutional capacity as key factors hindering necessary reforms and fiscal control. Despite the downturn in oil output, non-hydrocarbon growth remained relatively strong, fue…
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