Outlook and risks The outlook for economic growth remains positive. The economy is projected to grow by 3.5% in 2022 and 4.4% in 2023, depending on political stabilization, security improvements, and persistence of oil production. Inflation is projected to stay elevated at 3.7% in 2022 before falling a little to 2.4% in 2023, driven by international food prices. The fiscal balance is expected to record a surplus of 25.8% of GDP in 2022 and 17.3% in 2023 due to higher revenues from oil output. The current account surplus is projected to climb to 27.9% of GDP in [...]

BOGDANOV: RUSSIA READY TO JOIN INFRASTRUCTURE DEVELOPMENT PROJECTS IN LIBYA HTTPS://LIBYAOBSERVER.LY/NEWS/BOGDANOV-RUSSIA-READY-JOIN-INFRASTRUCTURE-DEVELOPMENT-PROJECTS-LIBYA A MEETING WITH THE COMMANDER OF AFRICOM, AFFIRMS THE UNITY OF LIBYAN SOIL, PRESERVATION OF NATIONAL SOVEREIGNTY, AND THE SANCTITY OF LIBYAN BLOOD. HTTPS://LANA.GOV.LY/POST.PHP?ID=272489&LANG=EN GREEN POWER POLITICS IN NORTH AFRICAN COUNTRIES: CONTINUITY OR CHANGE? HTTPS://ARABCENTERDC.ORG/RESOURCE/GREEN-POWER-POLITICS-IN-NORTH-AFRICAN-COUNTRIES-CONTINUITY-OR-CHANGE/ LIBYA: REPSOL PLANS 2023 SHARARA EXPLORATION HTTPS://WWW.MEES.COM/2023/3/3/GEOPOLITICAL-RISK/LIBYA-REPSOL-PLANS-2023-SHARARA-EXPLORATION/4C530EF0-B9C4-11ED-88E4-F3FF6B78F652 CAUTIOUS STABILITY ENCOURAGING FOREIGN COMPANIES TO OPERATE INSIDE LIBYA: ECONOMY MINISTRY HTTPS://WWW.LIBYAHERALD.COM/2023/03/CAUTIOUS-STABILITY-ENCOURAGING-FOREIGN-COMPANIES-TO-OPERATE-INSIDE-LIBYA-ECONOMY-MINISTRY/ FINDING A CLEAR EXIT PATH AS AN INVESTOR IN LIBYA HTTPS://TECHCABAL.COM/2023/03/02/FINDING-A-CLEAR-EXIT-PATH-AS-AN-INVESTOR-IN-LIBYA/ BENGHAZI CHAMBER OF COMMERCE HOSTS BUSINESS DELEGATION FROM TUNISIA, SPAIN AND SENEGAL HTTPS://WWW.LIBYAHERALD.COM/2023/03/BENGHAZI-CHAMBER-OF-COMMERCE-HOSTS-BUSINESS-DELEGATION-FROM-TUNISIA-SPAIN-AND-SENEGAL/ LIBYA IN INVESTMENT TALKS WITH TOTALENERGIES HTTPS://WWW.MEED.COM/LIBYA-IN-INVESTMENT-TALKS-WITH-TOTALENERGIES FORUM [...]

In recent weeks, the BLBA has been delighted to provide its members with support services as part of their membership benefits. We continue to be committed  to delivering the best possible service to ensure our members success in cross nation commercial endeavours. Although administration services, life support, and security advice are critical, the BLBA's greatest satisfaction has come from providing its members with access to its social wealth and credibility. By leveraging these resources, we have facilitated meetings between our members and validated targeted entities, resulting in productive outcomes that have provided members with the greatest benefits. [...]

EGYPT SAYS NEW CONSTITUTIONAL AMENDMENT IN LIBYA ‘STEP’ TO ELECTIONS HTTPS://WWW.AA.COM.TR/EN/MIDDLE-EAST/EGYPT-SAYS-NEW-CONSTITUTIONAL-AMENDMENT-IN-LIBYA-STEP-TO-ELECTIONS/2831129 WHITE HOUSE ANNOUNCES ITS PRIORITIES IN LIBYA HTTPS://LIBYAOBSERVER.LY/INBRIEF/WHITE-HOUSE-ANNOUNCES-ITS-PRIORITIES-LIBYA UK REMOVES FORMER LIBYAN PRIME MINSTER FROM SANCTIONS LIST HTTPS://WWW.EUROPEANSANCTIONS.COM/2023/02/UK-REMOVES-FORMER-LIBYAN-PRIME-MINSTER-FROM-SANCTIONS-LIST/ UN ENVOY PROPOSES NEW INITIATIVE FOR HOLDING LIBYA ELECTIONS IN 2023 HTTPS://LIBYAOBSERVER.LY/NEWS/UN-ENVOY-PROPOSES-NEW-INITIATIVE-HOLDING-LIBYA-ELECTIONS-2023 AMERICA'S DELEGATE TO THE SECURITY COUNCIL WARNS AGAINST VIOLATING THE WILL OF THE LIBYANS AND CALLS FOR THE IMMEDIATE DEPARTURE OF FOREIGN FORCES FROM THE COUNTRY. HTTPS://LANA.GOV.LY/POST.PHP?ID=272015&LANG=EN THE PRIME MINISTER OF THE GOVERNMENT OF NATIONAL UNITY ISSUES HIS INSTRUCTIONS FOR THE MAINTENANCE AND DEVELOPMENT OF THE NATIONAL MUSEUM AND THE ANCIENT CITIES HTTPS://LANA.GOV.LY/POST.PHP?ID=272007&LANG=EN INTERIOR MINISTER APPOINTS [...]

This factsheet provides the latest statistics on trade and investment between the UK and Libya. Date of release: 17 February 2023; Date of next planned release: 17 March 2023 Total trade in goods and services (exports plus imports) between the UK and Libya was £1.5 billion, in current prices, in the four quarters to the end of Q3 2022, an increase of 37.3% or £399 million from the four quarters to the end of Q3 2021. Of this £1.5 billion: Total UK exports to Libya amounted to £219 million, in current prices, in the four quarters to [...]

Yesterday, I had the opportunity to meet with Mr Elhouni, the Director of the Anti-Tax Evasion Department. Today, I had an insightful conversation with Mr Omar Abdalla Elzarroug, the Deputy Director General of the Tax Authority, regarding the digitalisation of the tax system. During our discussion, Mr Elzarroug highlighted the Tax Authority's key objectives for the future, which include: Developing a comprehensive strategy to digitalise and connect the tax system to streamline day-to-day operations. Updating the Constitution and Legal Framework to ensure compliance with the latest regulations and industry standards. Enhancing, training, and expanding the human resources [...]

I was pleased to have the opportunity to meet with Mr Khaled A. Elhouni, the Director of the Anti-Tax Evasion Department, today to discuss the important topic of the potential return of British companies to Libya. As the BLBA (British Libyan Business Association) CEO, I am responsible for facilitating and promoting business relations between the UK and Libya. This meeting was a significant step towards achieving that goal. We discussed the steps that can be taken to address any outstanding issues and ensure that companies can operate in Libya with confidence. One of the main points we [...]

THE PASSENGER TERMINAL IN AL-SHAAB PORT REOPENED HTTPS://EN.LIBYAN-CNA.NET/ECONOMICS-AND-BUSINESS/THE-PASSENGER-TERMINAL-IN-AL-SHAAB-PORT-REOPENED/   US PRESSURES ALLIES TO EXPEL RUSSIA’S WAGNER MERCENARIES FROM LIBYA, SUDAN HTTPS://EN.MINBARLIBYA.ORG/2023/02/13/US-PRESSURES-ALLIES-TO-EXPEL-RUSSIAS-WAGNER-MERCENARIES-FROM-LIBYA-SUDAN/   SEA LINE BETWEEN TRIPOLI AND ZARZIS LAUNCHED HTTPS://LIBYAOBSERVER.LY/INBRIEF/SEA-LINE-BETWEEN-TRIPOLI-AND-ZARZIS-LAUNCHED   WHAT ACCOUNTS FOR THE SUDDEN SURGE IN WESTERN INTEREST IN LIBYA? HTTPS://JOURNAL-NEO.ORG/2023/02/12/WHAT-ACCOUNTS-FOR-THE-SUDDEN-SURGE-IN-WESTERN-INTEREST-IN-LIBYA/   DBEIBAH FOLLOWS UP ON MAINTENANCE OF MAN-MADE RIVER WELLS HTTPS://LIBYAOBSERVER.LY/NEWS/DBEIBAH-FOLLOWS-MAINTENANCE-MAN-MADE-RIVER-WELLS   BERNIQ AIRWAYS ADDS FIFTH AIRCRAFT TO ITS FLEET – TO INCREASE DESTINATION HTTPS://WWW.LIBYAHERALD.COM/2023/02/BERNIQ-AIRWAYS-ADDS-FIFTH-AIRCRAFT-TO-ITS-FLEET-TO-INCREASE-DESTINATION/   AL-MUNFI AND HAFTAR ARE DISCUSSING HOLDING ELECTIONS BEFORE THE END OF THE YEAR HTTPS://GLOBEECHO.COM/NEWS/MIDDLE-EAST/AL-MUNFI-AND-HAFTAR-ARE-DISCUSSING-HOLDING-ELECTIONS-BEFORE-THE-END-OF-THE-YEAR/   ENI-NOC GAS DEAL SHOULD WORTH MORE THAN $8 BILLION, SAYS GNU OIL MINISTRY [...]

Letters to the Speaker of the House of Representatives and the President of the Senate on the Continuation of the National Emergency with Respect to Libya. Dear Mr. Speaker:   (Dear Madam President:) Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, within 90 days prior to the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date. In accordance with this provision, I have sent to the Federal [...]

Today, the British Libyan Business Association (BLBA) had the opportunity to visit Zliten and meet with the Zliten Chamber of Commerce, Industry, and Agriculture, as well as prominent local businesspeople. I must admit that Zliten was off my radar until now, but I was completely surprised by what I saw during our visit. It's hard to believe that a city of this size could be playing in the Champions League of business, but Zliten is a prime example of such achievements being possible for a small city. From its impressive cement, steel and PVC manufacturing to its [...]