{
  "title": "Algeria: 2006 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Algeria",
  "publication": "IMF Staff Country Reports, February 22, 2007",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/algeria-2006-article-iv-consultation-staff-report-public-information-notice-on-the-executive-20455",
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  "summary": "Algeria’s key challenges are to achieve sustained growth and reduce unemployment, while maintaining macroeconomic stability.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- Algeria’s key challenges: achieve sustained growth and reduce unemployment, while maintaining macroeconomic stability.\n- Real GDP growth temporarily declined to about 3 percent in 2006, largely because of a drop in hydrocarbon output for technical reasons.\n- Inflation remained low through mid-year but is picking up.\n- Monetary policy remained prudent, in line with the authorities’ objective of containing inflation.\n- The Bank of Algeria continued to absorb most of the excess liquidity of the banking system through deposit auctions in 2006."
    },
    {
      "heading": "Macroeconomic developments",
      "content": "- Real GDP growth: about 3 percent in 2006 (temporary decline).\n- Hydrocarbon sector: drop in hydrocarbon output for technical reasons identified as a key factor in the growth slowdown.\n- Inflation: low through mid-year 2006, with evidence of picking up thereafter."
    },
    {
      "heading": "Monetary and financial sector policy",
      "content": "- Monetary stance: described as prudent and aligned with the objective of containing inflation.\n- Liquidity management: the Bank of Algeria absorbed most excess banking system liquidity via deposit auctions in 2006."
    },
    {
      "heading": "Thematic coverage and policy context",
      "content": "- Subjects covered in the report include: Credit, Expenditure, External debt, Financial institutions, Money, Public debt, Public investment spending, State-owned banks.\n- Keywords and focus areas: Algerian authorities; authorities' reform priority; CR; Credit; government; government service; high-quality fund policy dialogue; ISCR; Maghreb; monetary policy; policy; Public investment spending; reform priority; stabilization fund; staff note; State-owned banks; world oil price.\n\nAlgeria: 2006 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Algeria. February 22, 2007; IMF Staff Country Reports 2007, 072 (2007), DOI: https://doi.org/10.5089/9781451811537.002\n\n---\n\n Content in this bundle\n\n- Algeria: Medium-Term Projections and Policy Discussions\n  - Algeria: Medium-Term Projections and Policy Discussions (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Algeria: Medium-Term Projections and Policy Discussions (PDF){rel=\"external\" type=\"application/pdf\"}\n- cr0772f\n  - cr0772f (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0772f (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 22, 2007",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451811537.002",
    "Algeria’s key challenges: achieve sustained growth and reduce unemployment, while maintaining macroeconomic stability.",
    "Real GDP growth temporarily declined to about 3 percent in 2006, largely because of a drop in hydrocarbon output for technical reasons.",
    "Inflation remained low through mid-year but is picking up.",
    "Monetary policy remained prudent, in line with the authorities’ objective of containing inflation.",
    "The Bank of Algeria continued to absorb most of the excess liquidity of the banking system through deposit auctions in 2006.",
    "Real GDP growth: about 3 percent in 2006 (temporary decline).",
    "Hydrocarbon sector: drop in hydrocarbon output for technical reasons identified as a key factor in the growth slowdown.",
    "Inflation: low through mid-year 2006, with evidence of picking up thereafter.",
    "Monetary stance: described as prudent and aligned with the objective of containing inflation.",
    "Liquidity management: the Bank of Algeria absorbed most excess banking system liquidity via deposit auctions in 2006.",
    "Subjects covered in the report include: Credit, Expenditure, External debt, Financial institutions, Money, Public debt, Public investment spending, State-owned banks.",
    "Keywords and focus areas: Algerian authorities; authorities' reform priority; CR; Credit; government; government service; high-quality fund policy dialogue; ISCR; Maghreb; monetary policy; policy; Public investment spending; reform priority; stabilization fund; staff note; State-owned banks; world oil price.",
    "**Algeria: Medium-Term Projections and Policy Discussions**",
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