Libya is the richest North African Country with highest unemployment rate, 20% illiteracy rate
Libya is the richest North African country. Counted in GDP per capita, Libya indeed is on an Eastern European level.
But that does not reflect the real economy of the average Libyan, with around half the population falling outside the oil-driven economy.
The unemployment rate is at a surprising 30 percent, with youth unemployment estimated at between 40 and 50 percent. This is the highest in North Africa.
Also other development indicators reveal that little of the petrodollars have been invested in the welfare of Libya's 6.5 million inhabitants. Education levels are lower than in neighbouring Tunisia, which has little oil, and a surprising 20 percent of Libyans remain illiterate.
Also, decent housing is unavailable to most of the disadvantaged half of the population. A generally high price level in Libya puts even more strains on these households.