Libya's biggest challenge in the aftermath of the revolution is to unite the country and reconstruct the fragile economy. The National Transitional Council inherited an economy that is still bruised from the corruption of the Gaddafi regime, but foreign companies are beginning to return to Libyan shores and oil production is once again underway.
National GDP dropped by 60% during 2011, but it is predicted to rise by 70% in 2012. Inflation hit 14% in 2011, but is expected to hover at around two percent in 2012. Revenues from the oil industry still account for the bulk of Libya's post-conflict economy; in March 2011, the new government said the state's production of oil was reaching targets of 1.3 million barrels per day.
Unemployment is now estimated to be around 37%, higher than the rate of 30% in 2004. The deflated economy means that even some medical and education graduates cannot find steady work. Major construction projects have been on hold since the revolution, and may remain so until the new administration is able to disarm militias and restore international confidence.