27.1 C
New York
Tuesday, October 3, 2023

International Monetary Fund expects Libyan economy to record record growth in 2023

Must read

Tripoli, 2 June. Dmitry Gershenson, head of the International Monetary Fund’s mission in Libya, said the organization expects the Libyan economy to grow by 23% in 2023. According to Arab media, this is the highest figure in the Middle East.

“At the end of 2022, the country’s foreign exchange reserves have reached 82 billion dollars” Gershenson said in an interview with CNBC Arabia.

He praised the Libyan Central Bank for “preserving large amounts of foreign currency despite the turmoil” and also recalled assets and investments frozen by the UN Security Council. They belong to local Libyan authorities and are valued at $70 billion.

Earlier, the International Monetary Fund announced that the recovery in world oil prices in the 2021-2022 period led to a surplus in Libya’s budget and current account in the specified period.

Earlier, Arab media reported that Tripoli ranks third in Africa’s largest gold reserves for 2022. According to the global statistics portal Statista, the North African Republic’s precious metal reserves are 117 metric tons.

Source: Riafan

More articles


Please enter your comment!
Please enter your name here

Latest article