The United Nations Social and Economic Commission for Western Asia (ESCWA) said that the total cost of the conflict in Libya since 2011 has reached 576 billion dollars, subject to an increase of 462 billion dollars if the conflict continues until 2025.
The committee stated in its report on the cost of the Libyan conflict on Wednesday that the conflict in Libya has led to a sharp contraction in the Libyan economy, with a decline in investment rates, in addition to a decrease in consumption due to the return of foreign workers to their countries of origin.
The committee confirmed the decline in the income of Libyan citizens and the slowdown in foreign trade due to a significant decrease in exports of some major products such as oil, but the impact was more severe on imports due to the shrinking of the construction and building sectors.
According to the report, the effects of the conflict in Libya exceeded the country’s economy to affect the economies of neighboring countries such as Algeria, Tunisia, Egypt and Sudan, which have broad economic relations with Libya at the levels of trade, investment and employment.
It is worth noting that “ESCWA” has launched a project to study the effects of peace and reconstruction in Libya on neighboring countries and on regional cooperation, in completion of the “socio-economic dialogue in Libya.”