The International Monetary Fund expected that the total public debt compared to the gross domestic product in Algeria during the current year will be more than 63 percent, compared to more than 53 percent last year, while the total net public debt will be estimated at about 60.5 percent this year, after it was more than 50 percent in the last year.
The Fund also expected that the import index would reach 42 billion dollars, and exports would exceed 31 billion dollars, meaning an expected trade balance deficit of more than ten billion dollars. As for inflation, the International Monetary Fund has expected that it will reach about 5 percent during the current year, and about 6 percent during the next year, in addition to a budget deficit of more than 18 percent, compared to more than 12 percent during the past year. As for the budget deficit outside of oil, it was estimated at more than 33 percent.
The International Monetary Fund expressed satisfaction with what it called a positive margin of movement in relation to external debt, which remains modest, as it is expected to reach 3.6 percent and 5.2 percent of output in 2021 and 2022, compared to 2.3 percent in 2020.
For years, Algeria’s oil reserves dwindled, and domestic demand increased, which fueled expectations about Algeria’s transformation into a non-oil country and expectations of its exit from the Organization of Petroleum Exporting Countries (OPEC), which will lead during the current year to a continued decline in the exchange reserves to a ceiling of more than $ 38 billion. Corrosion continues in the next year to about $ 29 billion.
Source (London-based Arab Newspaper, Edited)
