The expectations of the African Development Bank showed that the Algerian economy will resume growth in 2021, reaching 3.4 percent, after the decline in GDP recorded during the past year due to the Corona pandemic.
The African Development Bank is betting on Algeria's GDP growth of 2.9 percent. According to the bank, a return to a high level of growth could allow Algeria to reduce its "significant" fiscal deficit, which will decline from 13.6 percent in gross domestic product to 10.3 percent in 2021 and 8.7 percent in 2022.
According to the same source, the trend may be similar for the deficit in the current balance, which will decrease from 14.8 percent in gross domestic product to 13.8 percent in 2021 and 11.1 percent in 2022. On the other hand, the bank stated that Algeria must deepen the measures in order to expand the tax base included in the 2021 Finance Law, and to develop a program aimed at diversifying its economy in order to reduce the internal public debt.
Source (Algeria News Agency, Edited)
