Macroeconomic Forecast Libya

January 2007 | Macroeconomic Forecasts

Underpinned by high oil export revenues, we expect the consolidated budget surplus to reach 39.2% of GDP in 2006, up from 37.7% in 2005. We expect this to decline to just under just under 10% in 2007 on account of easing oil prices and continued expansionary fiscal policy. Our forecast for the OPEC basket average for 2007 remains at US$54.5/bbl, down from US$60.8/bbl last year.

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