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Libya’s economy is expected to be adversely affected by COVID-19 pandemic in 2020. The growth of real gross domestic product (GDP) of Libya is expected to shrink, unemployment level to increase and current account balance to remain negative due to COVID-19 this year. As of 27^th July 2020, Libya had 2,669 confirmed COVID-19 cases out of which 553 people have recovered from the disease while 60 have lost their lives.

In this blog post we will be focusing on economic impact of COVID-19 pandemic and policy measures of Libya government under following sections –

1. Impact of COVID-19 on Libya Economy in 2020

2. COVID-19 Containment Measures of Libya

3. COVID-19 Related Fiscal Policy Measures by Libya

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1. Impact of COVID-19 on Libya Economy in 2020

Libya’s real gross domestic product (GDP) was LYD 26.588 billion in 2019 and due to COVID-19 outbreak it is estimated to decrease by 58.662% to be around LYD 10.991 billion in 2020.

Libya’s unemployment rate was 18.563% of...