Libya’s economic growth declining – World Bank

Tripoli, 6 February 2013:

"Economic growth in Libya is once again dipping into negative territory", the World Bank reported in its latest MENA Quarterly Economic Brief.

"After the sharp decrease of 62 percent in 2011, GDP rebounded sharply and growth reached 104 percent in 2012 as a result of massive oil production. But the recovery stalled in 2013 as the oil sector, the major contributor to growth and government revenue (accounting for about 70 percent of GDP and 95 percent of revenue) has been crippled by prolonged . . .

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