IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2025-148.html

Libya: 2025 Article IV Consultation-Press Release; and Staff Report

Author

Listed:
  • International Monetary Fund

Abstract

The 2025 Article IV Consultation discusses that the continued political division and widespread fragilities have hindered the authorities’ capacity to control public expenditure and enact necessary reforms. Real gross domestic product growth is estimated to have declined to around 2 percent in 2024 from 10 percent in 2023, driven by a contraction in the hydrocarbon sector. The outlook is dominated by developments in the oil sector, and the country remains exposed to global downside risks. The current account is slated to post a small surplus in 2025 before turning into a small deficit over the medium term, as oil prices remain subdued. The fiscal balance is projected to remain in deficit under the weight of continued large government spending. Controlling expenditure will be key to ensure sustainability and to achieving intergenerational equity. Structural and governance reforms would foster the emergence of a diversified, sustainable, and private sector-led economy. Forging a comprehensive reform program aimed at reducing dependence on oil revenues should be at the top of the authorities’ agenda.

Suggested Citation

  • International Monetary Fund, 2025. "Libya: 2025 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2025/148, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2025/148
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=568035
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2025/148. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.