Politics Barrier To Growth

February 2007 | Economic Analysis

Underpinned by elevated levels of public spending we expect real GDP growth to average over 5% annually over the forecast period. Expenditure growth will remain above 20% in 2007 as the Libyan government follows through infrastructure development efforts following years of sanctions, which left the economy in a dilapidated state. Some of the projects unveiled as part of a 2006-11 development programme by Libyan officials in September include: a trans-Africa rail network estimated to be worth US$9bn, housing construction to meet an anticipated shortage of near half a million homes, 2,000km of road construction, a new airport in Benghazi and

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