Macroeconomic Forecast Libya

Highlighting some of the significant challenges authorities will face in kick starting growth in the non-oil economy, the World Economic Forum's annual Global Competitiveness Index ranked Libya 113 out of 143. Particular deficiencies were noted in the efficiency (or lack thereof) in the labour market, in addition to the relatively underdeveloped state of the country's financial markets. Whilst our real GDP growth forecasts see the economy expanding 86.4% in 2012, this is almost exclusively down to the rebound in oil production.

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