Libya

Political power in Libya will continue to be vested in Colonel Muammar Qadhafi. Real GDP growth is expected to ease slightly from an estimated 5.4% in 2007 to 5.2% in 2008 as private consumption is depressed by the proposed public sector reform, before picking up once more to 5.5% in 2009 as several...

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Bibliographic Details
Published inCountry Monitor Vol. 15; no. 45; p. 9
Format Trade Publication Article
LanguageEnglish
Published New York The Economist Intelligence Unit N.A., Incorporated 03.12.2007
Subjects
Consumer Price Index
Economic growth
Economic policy
Exports
GDP
Gross Domestic Product
Inflation
Political leadership
Political power
Politics
Public sector
Statistical data
Subsidies
Libya
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ISSN1528-4530
2048-4607

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Summary:Political power in Libya will continue to be vested in Colonel Muammar Qadhafi. Real GDP growth is expected to ease slightly from an estimated 5.4% in 2007 to 5.2% in 2008 as private consumption is depressed by the proposed public sector reform, before picking up once more to 5.5% in 2009 as several new oilfields come on stream. Despite government promises to open up the country's state-dominated economy, progress in most areas has been tentative and subject to periodic reversals. Inflation has picked up slightly since 2006, as the government has slowly relaxed its control over the domestic market and economic growth has strengthened. Overall export earnings will have risen by 3% in 2007, on the back of high oil prices.
ISSN:1528-4530
2048-4607