Libya

Libya is projected to grow ~12% in 2026, ranking second on the list, driven by a recovery in oil production after years of civil conflict. With Africa's largest proven oil reserves at 48.4 billion barrels, the nation has immense potential, but political instability causes output to swing wildly year-to-year. The IMF notes that Libya's economy remains volatile, with growth heavily tied to oil prices. Despite the rebound, the risk of renewed conflict threatens to derail progress, making long-term forecasts uncertain.