Libya ranked first in the Maghreb countries and the 11th globally in terms of the highest inflation rates in the world for the year 2021 according to the data of the International Monetary Fund, as the rate reached 21.1% in 2021 compared to only 2.8% in year 2020, and 0.2% in year 2019.
A country such as Algeria recorded an estimated inflation rate of 6.5% in 2021, compared to 2.4% in year 2020, while inflation in Tunisia reached 5.7% instead of 5.6% in year 2020.
The inflation rate in Mauritania rose to 2.7 percent in 2021, instead of 2.3 percent in 2020, and Morocco recorded a rise in inflation that reached 2 percent this year.
It is worth noting that Libya witnessed during this year a cessation of military operations, the formation of a unified government, and the stability of the country’s production of oil resources, which amounted to more than 1.2 million barrels per day.
