Tuesday, July 8, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libya Worst Performing Economy in 2020

December 30, 2020
Share on FacebookShare on Twitter

Libya has ranked last amongst countries as the worst economic performer this year, surpassing Venezuela and Lebanon.

The British newspaper ‘The Telegraph’ reviewed a list of countries with the best and worst performing economies in 2020, in light of the global COVID-19 pandemic and its economic repercussions on the world.

It pointed out that Libya’s civil war, global oil price crash, and the pandemic all conspired to give the Libyan economy the toughest year of all. Its economy collapsed by two-thirds this year according to the International Monetary Fund’s (IMF) estimates. This is almost exactly the same drop as the nation suffered in the 2011 civil war. GDP more than doubled in 2012, plunged by more than one-third in 2013 and a further 53% in 2014. This volatility is forecasted to turn into a boom of more than 70% next year, and more than 50% in 2022 from an extremely low base.

Any form of recovery is highly dependent on resolving the current conflict, and ending the pandemic.

Tags: 2020economylibyaPerformingWorst
Next Post

Libyan Parliament Warns of New War

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Benghazi Hosts Libya’s Key Energy Innovation Forum

Libyan MP: Libya Will Not Serve as Europe’s Border Guard

Belgassem Haftar Meets Greek FM to Discuss Investment & Infrastructure Cooperation

Libya’s Sirte Oil Company Discusses Cooperation with Schlumberger

Haftar Meets Greek FM in Benghazi

Libyan Army Rescues 37 Migrants

EDITOR PICKS

Libyan Parliament & State Council Discuss New Unified Government

Libya’s Sirte Oil Company Discusses Cooperation with Schlumberger

54 Migrants Rescued in Libya

Greek Coastguard Rescues Dozens Of Migrants From Libyan Routes

Libyan MP: Libya Will Not Serve as Europe’s Border Guard

Libyan Army Rescues 37 Migrants

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR