Algeria: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Algeria
IMF Staff Country Reports, April 2, 2009
Source details
- Canonical URL
- Algeria: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Algeria
Other formats
Bibliographic details
- Published: April 2, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451811582.002
Executive summary
- Algeria has enjoyed several years of strong economic performance.
- Economic performance remained relatively favorable in 2008.
- The outlook is described as encouraging despite the challenging international environment.
- Executive Directors welcomed Algeria’s strong recent performance, noting:
- solid nonhydrocarbon growth, and
- low inflation.
- Executive Directors commended the authorities for a sound policy stance that enabled the accumulation of large external reserves and resources in the oil stabilization fund.
Major findings and themes
- Growth and inflation:
- Solid nonhydrocarbon growth.
- Low inflation.
- External position and fiscal management:
- Accumulation of large external reserves.
- Resources accumulated in the oil stabilization fund.
- External environment:
- Outlook remains encouraging despite a challenging international environment.
Policy implications and recommendations (as reflected in the consultation)
- Continue prudent macroeconomic policies that support reserve accumulation and stabilization.
- Maintain policy stance that underpins low inflation and nonhydrocarbon growth.
- Use oil stabilization fund resources as part of a sound fiscal strategy to manage hydrocarbon revenue volatility.
Content in this bundle
- _cr09108
- _cr09108f