Algeria: 2016 Article IV Consultation-Press Release and Staff Report

May 18, 2016

Preview Citation

Format: Chicago

Algeria: 2016 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Also available in: français

Summary

This paper discusses the recent economic developments, outlook, risks, and policies required to foster sustainable economic growth of Algeria. Growth was sustained in 2015 while inflation picked up. The budget deficit reached a record high in 2015 because of the collapse in hydrocarbon revenues and a significant fiscal expansion. Beyond 2016, the outlook hinges on the strength of the policy response to the oil price shock. The collapse in oil prices points to the urgent need to reshape Algeria’s growth model. Algeria needs to undertake ambitious and sustained consolidation combined with a critical mass of structural reforms to diversify its economy and promote private sector-led growth and job creation.

Subject: Banking, Commercial banks, Financial institutions, Fiscal consolidation, Fiscal policy, Macrostructural analysis, Oil prices, Prices, State-owned banks, Structural reforms

Keywords: Commercial banks, CR, Deficit, Exchange rate, Exchange regime, Executive board assessment, Fiscal consolidation, Global, Growth model, IMF staff estimate, ISCR, Money market rate, Oil price shock, Oil prices, State-owned banks, Structural reforms

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/127
Stock No:

1DZAEA2016001
ISBN:

9781484358436
ISSN:

1934-7685

Notes

Also Available in French

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