The star performers in the non-oil sector were the trade, hotels and transportation sector, which grew by 7 per cent, followed by the construction and services sector, at 5 per cent. The manufacturing sector expanded for the first time in 5 years, by 1.8 per cent. Both government finances and the current account registered hefty surpluses on the back of high oil prices, respectively at 32.5 per cent and 41 per cent of gross domestic product (GDP).

Tripoli was predictably urged to accelerate economic reform but was credited for recent progress: the IMF praised the easing of trade restrictions, simplification of investment procedures and privatisation of state-owned enterprises, including Sahara Bank. A new banking law reinforcing the independence of the Central Bank of Libya and granting it the authority to license foreign banks was also welcomed.