{
  "title": "Algeria: Staff Report for the 2014 Article IV Consultation",
  "publication": "IMF Staff Country Reports, December 11, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/algeria-staff-report-for-the-2014-article-iv-consultation-42511",
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  "summary": "This 2014 Article IV Consultation highlights that economic activity in Algeria has picked up in 2014, with real GDP growth projected to reach 4 percent following 2.8 percent growth in 2013.",
  "sections": [
    {
      "heading": "Economic activity and growth",
      "content": "- Real GDP growth projected to reach 4 percent in 2014.\n- Real GDP growth was 2.8 percent in 2013.\n- The hydrocarbon sector is expected to expand for the first time in eight years.\n- Nonhydrocarbon growth remains supportive."
    },
    {
      "heading": "Inflation and monetary policy",
      "content": "- Inflation has decelerated sharply to 2.1 percent.\n- Tighter monetary policy is cited as a contributing factor to lower inflation."
    },
    {
      "heading": "Fiscal outlook and public finances",
      "content": "- The fiscal deficit is expected to widen to more than 7 percent.\n- Drivers of the wider fiscal deficit include:\n  - Lower hydrocarbon revenue.\n  - A sharp increase in capital expenditure.\n  - Continued high current spending.\n- Fiscal savings are expected to decline for the second consecutive year."
    },
    {
      "heading": "Subject coverage and keywords (as listed)",
      "content": "- Banking, Capital spending, Credit, Expenditure, Exports, Fiscal consolidation, Fiscal policy, International trade, Money, Oil prices, Prices\n- Keywords: Capital spending, CR, Credit, Europe, export, export base, Exports, FAD mission, Fiscal consolidation, GDP, Global, hydrocarbon export price, ISCR, labor market, liability positions vis-à-vis nonresident, Oil prices, SDR, skills mismatch\n\nInternational Monetary Fund. December 11, 2014.\n\n---\n\n Content in this bundle\n\n- cr14341\n  - cr14341 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr14341 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 11, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498382526.002",
    "Real GDP growth projected to reach 4 percent in 2014.",
    "Real GDP growth was 2.8 percent in 2013.",
    "The hydrocarbon sector is expected to expand for the first time in eight years.",
    "Nonhydrocarbon growth remains supportive.",
    "Inflation has decelerated sharply to 2.1 percent.",
    "Tighter monetary policy is cited as a contributing factor to lower inflation.",
    "The fiscal deficit is expected to widen to more than 7 percent.",
    "Drivers of the wider fiscal deficit include:",
    "Fiscal savings are expected to decline for the second consecutive year.",
    "Keywords: Capital spending, CR, Credit, Europe, export, export base, Exports, FAD mission, Fiscal consolidation, GDP, Global, hydrocarbon export price, ISCR, labor market, liability positions vis-à-vis nonresident, Oil prices, SDR, skills mismatch",
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