Algeria : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

June 13, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

To adjust to lower oil prices since 2014, Algeria initially relied solely on exchange rate policy before putting most of the burden on fiscal consolidation. In parallel, the government initiated several structural reforms and started designing a long-term plan to reshape the country’s growth model, while the central bank was modernizing its monetary policy framework. However, confronted with slowing growth, increasing unemployment, and financing difficulties, the authorities recently chose to boost activity through increased spending in 2018, to be followed by a steep fiscal consolidation from 2019 onward. With fiscal savings depleted and reluctant to borrow externally, they turned to monetary financing. To reduce the trade deficit and foster import substitution, they hardened import barriers.

Series:

Country Report No. 18/168

English

Publication Date:

June 13, 2018

ISBN/ISSN:

9781484361702/1934-7685

Stock No:

1DZAEA2018001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

74

Please address any questions about this title to publications@imf.org