The International Monetary Fund issued a report, in which it expected the Libyan economy to achieve a growth gains of 3.9% in 2023 on condition that the regional trade integration process should be launched.
On the other side, Kristalina Georgieva, Managing Director of the The International Monetary Fund, stressed that the issue of instability in Libya threatens the economic growth in all the Maghreb region.
The International Monetary Fund also confirmed that the real challenge facing the Maghreb region, that is rich in oil, gas, agricultural products as well as tourism, is its full and rapid integration into international trade flows, While full economic integration will allow for a significant increase in Gross Domestic Products (GDP) and growth rates in the Maghreb’s major countries.
In a recent report on the occasion of the founding anniversary of the Arab Maghreb Union in February 1989, the International Monetary Fund explained that the growth gain resulting from trade integration until 2023 could rise to 1.6% in Algeria, 3.9% in Libya, 3.4% in Tunisia, 4.1% in Morocco, and 5.5% in Mauritania.