## Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria

_IMF Staff Country Reports, April 12, 2024_

## Source details

**Canonical URL:** [Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria](https://www.imf.org/en/publications/cr/issues/2024/04/12/algeria-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-547687)

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## Bibliographic details
- Published: April 12, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400271878.002

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### 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.

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_Source: https://www.imf.org/en/publications/cr/issues/2024/04/12/algeria-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-547687_