Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
The 2023 Article IV Consultation discusses that the Algerian economy is estimated to have grown by 4.2 percent in 2023, a robust performance owing to a rebound in hydrocarbon production and strong performance in the industry, construction, and service sectors. The near-term outlook is broadly positive, but inflation remains a concern. Medium-term economic prospects hinge on efforts to diversify the economy and the ability to attract private investment, and are subject to several risks. The reforms embodied in the Monetary and Banking Law could be an impetus to strengthen the credit market infrastructure, develop long-term savings products, and advance financial inclusion. Sustained and bold reforms would tap the potential of the private sector as driver of sustained growth and job creation. The implementation of the Investment Law and the enactment of a new Land Law aim at fostering private sector initiative and investment and should be complemented with reforming the state-owned enterprises sector and making product and labor market more flexible.
Series:
Country Report No. 2024/088
Subject:
Budget planning and preparation Financial institutions Inflation International organization Monetary policy Prices Public debt Public financial management (PFM) State-owned banks
Frequency:
regular
English
Publication Date:
April 12, 2024
ISBN/ISSN:
9798400271878/1934-7685
Stock No:
1DZAEA2024001
Format:
Paper
Pages:
94
Please address any questions about this title to publications@imf.org