The International Monetary Fund reported a slowdown in Algeria’s economic activity, with growth declining to 3.6 percent in 2024 compared to 4.1 percent in 2023.
The current account balance turned into a deficit in 2024 due to reduced hydrocarbon output and lower gas prices. Despite this, international reserves remained robust at $67.8 billion, equivalent to around 14 months of imports. Inflation dropped significantly from an average of 9.3 percent in 2023 to 4 percent in 2024.
The fiscal deficit widened substantially to 13.9 percent of GDP in 2024 due to a drop in hydrocarbon revenues and higher wage and investment spending. The deficit is expected to remain elevated in 2025.
Source: (Al-Sharq Al-Awsat Newspaper, Edited)
