The national unrest in Libya has not only destabilised the economy but it also had dire social impacts.
Libya’s political instability, high inflation, and a sustained liquidity crisis has stagnated development of Libya’s financial sector which is now affecting housing loans accessibility.
The real GDP growth was estimated at 55.1 percent in 2017 after three years of economic contraction, due to a significant increase in oil production (from 400 000 bpd in 2016 to 900 000 bpd in 2017) and a slight increase in oil prices.
Although, before the conflict, there was a wave of political and social grievances due to an acute shortage of housing units.
According to a report cost of renting a furnished two-bedroom apartment has risen to about 3,000-4,000 Libyan dinars ($2,140-$2,855) a month from 1,500 dinars before April.
Currently an estimated 435 000 out of the population of 6 million are internally displaced, and houses, schools, and hospitals are destroyed.