Development of macroeconomic balance indicators in the Libyan econom During the period 1990-2020

Abstract

     The aim of this research is to study the extent of the development of indicators of macroeconomic balance in the Libyan economy during the period 1990-2020, through the use of the descriptive analytical approach to the development of indicators of economic balance represented by its internal and external parts. The study used the inflation index represented by the consumer index as an indicator of internal economic balance. Using the trade balance, which represents the difference between exports and imports, as an indicator of the external economic balance in the Libyan economy. We reviewed the development of inflation rates and the balance of the general budget as indicators of internal balance, and also the development of the trade balance and the exchange rate of the Libyan dinar against the US dollar as indicators of the external economic balance of the Libyan economy during the period. 1990-2020.  The research reached several results, which were that there was a positive development in public spending in the Libyan economy throughout the study period until the year 2013, after which it began to decline. The research also concluded that inflation rates in the Libyan economy, represented by the price index, grew significantly during the study period. The general trend was positive, and the general budget in the Libyan economy during the study period witnessed a noticeable surplus in most years except for 2002, 2013, and 2014 AD, and in the remaining years public revenues were greater than public expenditures.