Ahmad 
In its report on the economic situation in Libya, the International Monetary Fund (IMF) predicted that the country’s economy will witness an estimated growth of about 8% this year.
The strong growth in 2023 was the result of a recovery in oil production after previous disruptions and is expected to continue at a slower pace in subsequent years.
Regarding the challenges faced by Libya over the past year, the IMF pointed to the decline in the current account surplus due to the decline in oil prices, in addition to the impact of natural factors such as Storm Daniel that hit the country last September.
For its part, the IMF called on the Libyan authorities to intensify their efforts to address pressure on the exchange rate and avoid the negative effects of the economic cycle on spending, stressing the importance of strengthening the country’s fiscal framework.
The IMF commended the decision to reunify the central bank, saying that it will contribute to improving banking supervision and coordinating monetary policy.
Libyan Oil Minister discusses Saudi investments in Libyan oil industry