Content type

Oil Export Rebound To Drive Libya's Strong Growth In 2023

Country Risk / Libya / Wed 25 Jan, 2023

Key View

  • At Fitch Solutions, we forecast that Libya’s real GDP will expand by 19.7% in 2023, driven primarily by a recovery in oil exports, after an estimated 12.9% contraction in 2022.
  • Higher oil revenue and increased political stability will support government spending, with positive spillovers on investment activity and private
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Rising Political Risk In Libya Poses Key Risk To Oil Output

Oil & Gas / Libya / Thu 23 Dec, 2021

Key View

  • The Libyan National Oil Corporation (NOC) has declared force majeure on exports from the Zawiya and Mellitah oil terminals, due to the shut-in of more than 300,000b/d of output from the El Sharara, El Feel, Wafa and Hamada fields. A sustained loss of production from the four fields would substantially reduce export revenues
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Political Risk Looming On Libya's Steady Growth In 2022

Country Risk / Libya / Fri 22 Oct, 2021

Key View

  • At Fitch Solutions we forecast Libya’s real GDP will grow by 42.0% in 2021 after contracting by 36.4% in 2020 on the back of favourable base effects and higher oil production amid the ongoing ceasefire.
  • In 2022, even though the base effects will fade, we expect the economy will grow by 4.6%. This will be mainly on the back of a
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