{
  "title": "Algeria at a Crossroads",
  "publication": "IMF News, December 2, 2021",
  "sourceUrl": "https://www.imf.org/en/news/articles/2021/12/01/na120221-algeria-at-a-crossroads",
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  "summary": "<span>The Algerian economy is gradually recovering from the initial impact of the pandemic and last year&rsquo;s oil price shocks.</span>",
  "authors": [
    "Mahmoud Harb IMF Middle East",
    "Central Asia Department December"
  ],
  "publishDate": "2021-12-02",
  "sections": [
    {
      "heading": "Recovery from pandemic and oil shock",
      "content": "- The Algerian economy is gradually recovering from the initial impact of the pandemic and last year’s oil price shocks.\n- The health crisis has eased; most containment measures have been lifted, and domestic production of vaccines is supporting immunization efforts.\n- With the rebound in hydrocarbon production and prices, growth has resumed, but the outlook is highly uncertain."
    },
    {
      "heading": "Macroeconomic imbalances and policy recalibration",
      "content": "- The 2020 shocks exacerbated the economy’s longstanding imbalances, accelerating the rise in government debt and the fall in international reserves.\n- Policy recalibration is needed to safeguard macroeconomic stability."
    },
    {
      "heading": "Government Action Plan and reforms",
      "content": "- The Government Action Plan unveiled in September incorporates wide-ranging reforms to:\n  - support the recovery,\n  - unleash new growth drivers, and\n  - bolster governance and social cohesion.\n- Progress on these reforms is crucial for transitioning to a more stable, diversified and inclusive growth model."
    },
    {
      "heading": "Sources of growth, diversification, and human capital",
      "content": "- Algeria has many untapped sources of growth and jobs.\n- Developing these sources requires a profound transformation of the economy and diversifying it away from hydrocarbons.\n- The recovery from the pandemic provides a unique opportunity for Algeria to rebuild resilience and harness the potential from its dynamic youth.\n\nBy Mahmoud Harb, IMF Middle East and Central Asia Department — December 2, 2021\n\n---\n\n\n References\n\n- https://www.imf.org/en/News/country-focus\n- PRESS CENTER\n- Read the press release\n- Algeria and the IMF\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2021/12/01/na120221-algeria-at-a-crossroads"
    }
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    "Authors: Mahmoud Harb IMF Middle East, Central Asia Department December",
    "Published: December 2, 2021",
    "The Algerian economy is gradually recovering from the initial impact of the pandemic and last year’s oil price shocks.",
    "The health crisis has eased; most containment measures have been lifted, and domestic production of vaccines is supporting immunization efforts.",
    "With the rebound in hydrocarbon production and prices, growth has resumed, but the outlook is highly uncertain.",
    "The 2020 shocks exacerbated the economy’s longstanding imbalances, accelerating the rise in government debt and the fall in international reserves.",
    "Policy recalibration is needed to safeguard macroeconomic stability.",
    "The Government Action Plan unveiled in September incorporates wide-ranging reforms to:",
    "Progress on these reforms is crucial for transitioning to a more stable, diversified and inclusive growth model.",
    "Algeria has many untapped sources of growth and jobs.",
    "Developing these sources requires a profound transformation of the economy and diversifying it away from hydrocarbons.",
    "The recovery from the pandemic provides a unique opportunity for Algeria to rebuild resilience and harness the potential from its dynamic youth.",
    "[https://www.imf.org/en/News/country-focus](https://www.imf.org/en/News/country-focus)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[Read the press release](https://www.imf.org/en/News/Articles/2021/11/19/pr21341-algeria-imf-executive-board-concludes-2021-article-iv-consultation-with-algeria)",
    "[Algeria and the IMF](https://www.imf.org/en/Countries/DZA)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
  ],
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