Why does Libya have the highest GDP growth rate?
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I just looked at the list of countries by GDP growth rate (https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate). And I found Libya at the top. Also the difference between the rates of Libya and that of the country at second position is huge. What the hell is Libya doing?
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Answer:
It's likely to be the postwar recovery. Normally, countries grow no faster than 10% annually.
Anton Tarasenko at Quora Visit the source
Other answers
If I have a 1 unit of money and by the end of the year I increase it to 9, I have a 800% growth rate, whereas if I have 101 units of money and I increase it to 109 units (Same nominal increase) by the end of the year, I have a growth rate of 8%. So, the lower your GDP is the faster it can grow. The Growth rate of countries like USA is slow because it is already very high.
Anonymous
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