The Libyan economy has recently been hit by four overlapping shocks: an intensifying conflict that suffocates economic activity, the closure of oil fields that puts the country's major income-generating activity largely on hold, decreasing oil prices that reduce income from oil production in surviving fields, and the COVID-19 pandemic (with 3,438 confirmed cases and 73 deaths as of July 2020), which threatens to further suppress the economy.
This monitoring note, first in the biannual series, takes stock of recent economic trends emanating from these shocks. The note aims to inform parties concerned with the well-being of Libyan citizens by providing a systematic overview of the conditions on the ground.
Libya Economic Monitor - July 2020 (Full Report in PDF Format)
(Source: World Bank)