Algeria: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, February 10, 2004
Source details
- Canonical URL
- Algeria: Staff Report for the 2002 Article IV Consultation
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Bibliographic details
- Published: February 10, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451811438.002
Executive summary
- The strong hydrocarbon export performance has allowed Algeria to strengthen its external position and record a budget surplus.
- Executive Directors commend the government for the broad improvement in macroeconomic indicators.
- The government has eased the fiscal stance, and this strategy has succeeded in boosting short-term growth.
- The surge in credit to the economy is a concern.
- Algeria should reinvigorate its structural and institutional reform efforts to put the economy on a sustainable path of higher growth, lower unemployment, improved social conditions, and reduced poverty.
Key findings and macroeconomic indicators
- Hydrocarbon export performance: described as "strong" and central to external position improvement and budget surplus.
- Fiscal policy: the government has eased the fiscal stance.
- Growth: easing the fiscal stance "has succeeded in boosting short-term growth."
- Credit: "The surge in credit to the economy is a concern."
Policy recommendations and priorities
- Reinvigorate structural and institutional reform efforts to achieve:
- higher growth,
- lower unemployment,
- improved social conditions,
- reduced poverty.
Subjects and keywords (as listed)
- Subjects: Banking, Credit, Expenditure, External debt, Money, Oil prices, Prices, Public debt
- Keywords: authority, CR, Credit, deposit auction, euro exchange rate, hydrocarbon revenue, ISCR, Maghreb, Middle East, Oil prices, staff appraisal, staff projection