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'Peace in Libya will achieve $30bn in gains for Algeria,' says UN report

A Libyan man waves his national flag in Benghazi, Libya on 27 February 2015 [ABDULLAH DOMA/AFP/Getty Images]
A Libyan man waves his national flag in Benghazi, Libya on 27 February 2015 [ABDULLAH DOMA/AFP/Getty Images]

Peace in Libya will benefit neighbouring Algeria to the tune of $30 billion by 2025, the United Nations Economic and Social Commission for Western Asia (ESCWA)has estimated.

In a statement issued on Tuesday, the ESCWA said that according to a study it conducted entitled 'Benefits of Peace in Libya: Neighbouring Countries and Beyond', the economic gains in Egypt will reach nearly $100 billion, $30 billion in Algeria, and nearly $22 billion in Sudan by 2025.

The study added that "peace in Libya will present opportunities at the international level, which will generate economic gains for Libya's main trade partners, including Italy, Germany, France and Turkey, which are expected to gain $13 billion, $7.5 billion, $6 billion, $5.5 billion, respectively."

The study also highlighted that by 2025 unemployment rates in Sudan are likely to decrease by 14 per cent, in Egypt by nine per cent, in Tunisia by six per cent and in Algeria by two per cent.

READ: A prime minister's visit, a court ruling and the possibility of another Gaddafi for Libya

Categories
AfricaAlgeriaEgyptEurope & RussiaFranceGermanyInternational OrganisationsItalyLibyaNewsSudanTurkeyUN
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