Libya – Strong economic growth with huge surplus

Since 2002 Libya has been experiencing strong economic growth and large fiscal and external current account surpluses. The strong economic growth has been achieved in an environment of low inflation and stable macroeconomic conditions. Growth has been particularly strong in the construction and service sectors. On-going privatization in most sectors is increasing public participation in the country’s economic boom.

In the last 3 years, Libya has signed about 70 trade agreements related to double taxation, investor protection and promotion of trade. Libya is preparing for accession to the WTO and is negotiating a partnership agreement with the EU…read more 

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