IMF expects Libya to top list of Arab countries in terms of economic growth in 2025

A recent report issued by the IMF suggests that growth in Libya could move from 2.4% this year to 13.7% in 2025, placing Libya at the forefront of the Middle East and North Africa region in terms of growth expectations. However, the IMF warned of Libya's continued dependence on oil and gas, stressing that the country was in dire need of a clear national economic vision for the future. The oil and gas sector accounted for 60% of the gross domestic product, 94% of exports, and 97% of government revenues, according to data published by the World Bank in 2023.