Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria
IMF Staff Country Reports, April 12, 2024
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- Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria
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Bibliographic details
- Published: April 12, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400271878.002
Economic performance in 2023
- The Algerian economy is estimated to have grown by 4.2 percent in 2023.
- Growth drivers identified:
- Rebound in hydrocarbon production.
- Strong performance in the industry, construction, and service sectors.
- Inflation is highlighted as a continuing concern.
Near-term outlook and medium-term prospects
- Near-term outlook: broadly positive.
- Medium-term prospects hinge on:
- Efforts to diversify the economy.
- The ability to attract private investment.
- Risks: medium-term prospects are subject to several risks (unspecified in the summary).
Monetary, financial sector, and inclusion
- The reforms embodied in the Monetary and Banking Law could:
- Strengthen the credit market infrastructure.
- Develop long-term savings products.
- Advance financial inclusion.
- Monetary policy considerations referenced include inflation pressures and monetary policy tightening (terms preserved from the source keywords).
Structural reforms and policy recommendations
- Sustained and bold reforms recommended to:
- Tap the potential of the private sector as a driver of sustained growth and job creation.
- Specific reform measures noted:
- Implementation of the Investment Law.
- Enactment of a new Land Law to foster private sector initiative and investment.
- Complementary reforms suggested: reforming the state-owned enterprises sector and making product and labor markets more flexible.
Fiscal and public sector themes
- Subjects listed in the report include:
- Budget planning and preparation.
- Public debt.
- Public financial management (PFM).
- State-owned banks and financial institutions.
Content in this bundle
- 1dzaea2024001