Libya continues to maintain its presence on the list of the top ten fastest-growing economies in the world for the second consecutive year, with the International Monetary Fund (IMF) expecting Libyan economy to grow by 7.8% in 2024, decreasing to 6.9% in 2025.
According to the latest semi-annual IMF projections published in April 2024, this is higher than its previous global growth forecast of 2.9% six months ago.
While the IMF is concerned about the global economic growth slowdown over the remaining decade, many emerging countries have strong short-term expectations.
Guyana tops expectations for the fastest-growing economies in 2024, with the IMF now expecting the South American country's economy to expand by 33.9% this year, compared to its previous forecast of 26.6% six months ago.
Economic growth projections are closely monitored indicators, as countries with strong growth prospects may also be more attractive for investment, leading to increased economic activity and higher returns.