Libya has been in a state of flux since 2011. Based on the area, Libya is the second biggest country in North Africa. It has a population of 6.8 million as of May 2020. Its population is set to grow by 9% and will reach 7.4 million in the coming decade.
Libya has the largest oil reserves in Africa. Therefore, oil and gas account for most of the country’s income. The government has tried to end its heavy dependence on oil by diversifying the economy by focusing on industrial and agricultural sectors. The country had a GDP of $50 billion or slightly over $5,000 per capita in 2019.
Power and Water
The government has taken initiatives to diversify its energy mix. Libya aims to generate at least 20% of its electricity from renewable energy by 2030. To achieve this, it needs to invest in infrastructure and technology. Looking at the growing population, we expect the country will need an additional 25 megawatts of electricity generating capacity by 2030.
The civil war in the country has damaged the water network and millions in Libya are finding it difficult to access water for their daily needs. Rival groups have also used water as a means for negotiating their demands from time to time. The country needs significant planning and investment to improve overall access to clean water. We estimate an additional 45 million cubic meters of potable water per annum would be required by 2030 to eliminate the looming water crisis.
If a peace agreement can be reached, we anticipate a rebuild of the retail sector. We predict an additional 70,000 square meters of retail space will be required within the coming decade if the economy stabilizes and population grows.
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|Population in 2020||6.8 million|
|Population by 2030||7.4 million|
|Population growth from 2020 to 2030||9 %|
|GDP 2019||$ 50 bn|
|Electricity Capacity required by 2030||25 MW|
|Additional Potable Water required per annum by 2030||45 million m3|
|Additional retail by 2030||70,000 m2|
|New Hospitals required by 2030||4|