No Result
View All Result
Tuesday, June 6, 2023
23 °c
Tripoli
22 ° Wed
22 ° Thu
24 ° Fri
26 ° Sat
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

MENA states turning the economic corner? – IMF WEO April 2014 report

bySami Zaptia
April 13, 2014
Reading Time: 2 mins read
A A
MENA states turning the economic corner? – IMF WEO April 2014 report

The IMF/WEO’s futures-based forecast for the nominal Brent oil price is $108 a barrel in 2014, declining to $103 in 2015.

12
SHARES
50
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

The IMF/WEO’s futures-based forecast for the nominal Brent oil price is $108 a barrel in 2014, declining to $103 in 2015.
The IMF/WEO’s futures-based forecast for the nominal Brent oil price is $108 a barrel in 2014, declining to $103 in 2015.

Tripoli, 8 April 2014:

The Middle East and North Africa could be turning the economic corner in 2014, stated the . . .[restrict]IMF today in its April 2014 World Economic Outlook report.

Growth was tepid across the Middle East and North Africa, Afghanistan, and Pakistan (MENAP) in 2013,it reported, as declines in oil production and weak private investment growth amid continued political transitions and conflict offset increases in public spending.

Economic activity will strengthen in 2014–15 as export growth improves in line with trading partners’ recoveries and public and private investment accelerates. However, weak confidence, high unemployment, low competitiveness, and in many cases, large public deficits (as is the case in Libya due increased state expenditure on wages and subsidies and reduced oil exports) will continue to weigh on economic prospects in the region.

RELATED POSTS

Libyan state expenditure was LD 127.9 billion in 2022, up LD 42 billion on 2021: latest CBL stats

The Libyan Post-Oil Era: The Challenges and Opportunities of Energy Transition

Risks are tilted to the downside on slow progress in reforms during complex political transitions. Reforms to raise and diversify potential output and improve competitiveness and resilience are essential for achieving sustainable and inclusive growth and creating jobs.

Oil-Exporting Economies

Specifically for MENAP oil exporters such as Libya, the IMF says that economic activity moderated in 2013 to about 2 percent, less than half the growth rate experienced in recent years. Growth in the non-oil economy was supported by sustained public investment in infrastructure and private credit expansion.

However, tepid global oil demand, increased oil supply from the United States, and regional oil supply disruptions—mainly those in Libya, where a wave of instability caused oil output to fall to about one-third of capacity—slowed growth in the oil sectors.

As oil output stabilizes alongside strengthening global activity and sustained consumption and investment, total GDP growth is expected to rise to about 3½ percent in 2014 . Softening food prices are expected to contain inflation at less than 5 percent in most oil exporters.

The WEO’s futures-based forecast for the nominal Brent oil price is $108 a barrel in 2014, declining to $103 in 2015. [/restrict]

 
Tags: deficitfeaturedIMFoilWEOWorld Economic Outlook report
Share5Tweet3Share1

Related Posts

British Libyan Business Association and the Libyan Business Council sign MoU
Business

British Libyan Business Association and the Libyan Business Council sign MoU

June 5, 2023
Libyan Export Promotion Centre discusses with Italian Chamber export of olive oil, dates and tuna to Italy and Europe
Business

Libyan-Tunisia agricultural, marine and food sector B2B meetings – Tunis 19 to 20 June

June 5, 2023
Tripoli Chamber leading business delegation to Saudi on 22 August
Business

Tripoli Chamber leading business delegation to Saudi on 22 August

June 5, 2023
On National Information Technology Day, the mini-satellite project CubeSat was launched
Business

On National Information Technology Day, the mini-satellite project CubeSat was launched

June 4, 2023
Ministry of Industry provides support to the Industrial Research Centre
Business

Ministry of Industry provides support to the Industrial Research Centre

June 4, 2023
Benghazi Turkish Trade Exhibition postponed to 12-15 June
Business

Benghazi Turkish Trade Exhibition postponed to 12-15 June

June 3, 2023
Next Post

Derna Islamist leader murdered

Two explosions in Benghazi

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • State recognised militia and Libyan Army clash in central Tripoli

    State recognised militia and Libyan Army clash in central Tripoli

    251 shares
    Share 101 Tweet 63
  • HB Group opens Apple authorised I-Shop reseller in Tripoli’s Siyahia

    74 shares
    Share 30 Tweet 19
  • Members of illegal organizations given imprisonment and death sentences by Misrata Criminal Court

    60 shares
    Share 24 Tweet 15
  • AMLY School is offering an innovative approach to learning in Libya

    57 shares
    Share 23 Tweet 14
  • Sirte Oil Company’s smart fields give it higher efficiency, more accurate real-time data for timely decisions

    52 shares
    Share 21 Tweet 13
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

British Libyan Business Association and the Libyan Business Council sign MoU

Libyan-Tunisia agricultural, marine and food sector B2B meetings – Tunis 19 to 20 June

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?