11 Jul 2012

Economic rebound in Libya expected by IMF

8:00 am on 11 July 2012

The International Moentary Fund says economic activity in Libya is set take off as it rebuilds from civil war.

It also says oil production will increase to levels last seen during the rule of deposed dictator Muammar Gaddafi.

In a report on Libya's economy conducted in May but only just published, the IMF forecasts growth will skyrocket to 116.6% this year.

Growth next year is expected to reach 16.5%.