The African Development Bank on Tuesday projected a growth rate of 6.2% for the Libyan economy in 2025, based on the National Oil Corporation’s goals, which anticipate exceeding a production level of 1.5 million barrels per day by the end of that year.
“Independent Arabia” reported that the Libyan economy experienced a difficult year due to fluctuations in oil production and a collapse in the third quarter of the current year caused by political disputes between rival authorities at the head of governance.
The newspaper confirmed that Libyan oil production has significantly improved in recent weeks, reaching 1.42 million barrels per day, the highest level in over a decade. This supports forecasts suggesting that the Libyan economy could recover and regain economic growth momentum next year, according to donor institutions.
