Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria

April 12, 2024

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Format: Chicago

Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria, (USA: International Monetary Fund, 2024) accessed October 6, 2024

Also available in: français

Summary

The 2023 Article IV Consultation discusses that the Algerian economy is estimated to have grown by 4.2 percent in 2023, a robust performance owing to a rebound in hydrocarbon production and strong performance in the industry, construction, and service sectors. The near-term outlook is broadly positive, but inflation remains a concern. Medium-term economic prospects hinge on efforts to diversify the economy and the ability to attract private investment, and are subject to several risks. The reforms embodied in the Monetary and Banking Law could be an impetus to strengthen the credit market infrastructure, develop long-term savings products, and advance financial inclusion. Sustained and bold reforms would tap the potential of the private sector as driver of sustained growth and job creation. The implementation of the Investment Law and the enactment of a new Land Law aim at fostering private sector initiative and investment and should be complemented with reforming the state-owned enterprises sector and making product and labor market more flexible.

Subject: Budget planning and preparation, Financial institutions, Inflation, International organization, Monetary policy, Prices, Public debt, Public financial management (PFM), State-owned banks

Keywords: Algeria's CPI, Budget planning and preparation, Credit assessment System, East Africa, Europe, Global, Hydrocarbon price, Inflation, Inflation pressure, Inflation risk, Liquidity-absorption operation, Market liquidity, Middle East, Monetary policy tightening, North Africa, Public finance, State-owned banks

Publication Details

Pages:

94
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/088
Stock No:

1DZAEA2024001
ISBN:

9798400271878
ISSN:

1934-7685

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