World Bank expects Libyan economy to grow in the coming two years

The World Bank has said it expects the Libyan economy to grow by a rate of somewhere between 4.8 and 5.8% from 2024 to 2026 provided that political stability and the oil sector remain stable. It comes as the IMF-World Bank Spring meetings convene in Washington D.C. where the Governor of Libya's Central Bank, Saddek Elkaber, met with World Bank Group Executive Director Tawqir Shah to discuss the latest economic and financial developments in Libya. The World Bank also expects Libya’s current account surplus to stabilize at about 26% to 28% of GDP during the period from 2024 to 2026, provided that the oil production remains stable.