The Socialist People’s Libyan Arab Jamahiriya: 2005 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2006/136, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2005 Article IV Consultation underlies that in 2004, Libya’s macroeconomic performance was satisfactory, owing mainly to higher oil prices and increased oil output. Real GDP grew 4½ percent while consumer prices declined. The favorable developments in the oil market contributed to a significant improvement in the external current account surplus, which reached some 24 percent of GDP. In 2005, macroeconomic performance remained relatively strong. Real GDP growth was about 3½ percent, and inflation low. In contrast to previous years, economic growth is estimated to have been generated mainly in the non-oil economy.

Keywords: ISCR; CR; government; Libya; net creditor position; oil revenue; financial situation; government buy-back; CBL authority; Libyan authorities; Imports; Commercial banks; Oil; Exchange rates; Middle East; North Africa; East Africa (search for similar items in EconPapers)
Pages: 46
Date: 2006-04-10
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