dc.contributor.author	World Bank
dc.date.accessioned	2023-11-08T19:25:34Z
dc.date.available	2023-11-08T19:25:34Z
dc.date.issued	2023-11-08
dc.description.abstract	Algeria’s GDP recovered to its pre-pandemic level in 2022, while high oil and gas prices allowed for marked improvements in its external and fiscal balances. The recovery continued during the first half of 2023, albeit at a slower pace, supported by nonhydrocarbon activity and investment. Oil and natural gas prices and exports declined in H1–2023, adding pressure on external and fiscal balances. Inflation remained elevated, reaching 9.7 percent in H1–2023, now driven by fresh food prices, mostly produced domestically. Growth is expected to recover in 2024 and 2025, while the fiscal and external balances would stabilize after an initial drop. The macroeconomic outlook hinges on volatile hydrocarbon prices, and the regional context underscores the reality of the climate risks to which Algeria is also exposed. These risks underscore the importance of sustainably improving macroeconomic balances, while continuing efforts to foster private sector-led investment, growth, and diversification. Diversifying export revenues away from hydrocarbons and attracting foreign investment would improve Algeria’s resilience to oil and gas price fluctuations. On the fiscal front, higher spending rigidity contrasts with volatile hydrocarbon revenues, generating significant uncertainty. This underlines the need to raise more tax revenues and strengthen spending efficiency in an equitable way, notably that of public investment. Consistent with the 2021 Government Action Plan, continued implementation of reforms to stimulate private sector to become the engine of sustainable and diversified growth remains essential to the performance and resilience of the Algerian economy.	en
dc.description.abstract	Le PIB de l’Algérie a retrouvé son niveau prépandémique en 2022, tandis que les prix élevés du pétrole et du gaz ont permis d’améliorer sensiblement les soldes extérieur et budgétaire. La reprise s’est poursuivie au S1–2023, bien qu’à un rythme plus modéré, soutenue par l’activité hors-hydrocarbures et l’investissement. Les prix et les exportations de pétrole et de gaz naturel ayant baissé au S1–2023, la pres- sions sur les équilibres extérieur et budgétaire s’est accrue. L’inflation reste élevée, atteignant 9,7% au S1–2023, désormais tirée par le prix des produits agricoles frais, principalement produits locale- ment. La croissance devrait être plus élevée en 2024 et 2025, tandis que les soldes budgétaire et extérieur se stabiliseraient après une baisse initiale. Les perspectives macroéconomiques demeurent tributaires des prix volatiles des hydrocarbures, et le contexte régional sou- ligne la réalité des risques climatiques auxquels l’Algérie est également exposée. Ces risques soulignent l’importance de l’amélioration durable des équilibres macroéco- nomiques, et de la poursuite des efforts visant à encourager l’investissement privé, la croissance et la diversification.	fr
dc.identifier	http://documents.worldbank.org/curated/en/099514310252319658/IDU0a007dcea0411604dc009a830ad4ea8f93962
dc.identifier.doi	10.1596/40587
dc.identifier.uri	https://openknowledge.worldbank.org/handle/10986/40587
dc.language	English
dc.language.iso	en_US
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY-NC 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	https://creativecommons.org/licenses/by-nc/3.0/igo
dc.subject	NONHYDROCARBON
dc.subject	NATURAL GAS
dc.subject	FISCAL DEFICIT
dc.subject	OIL PRICE
dc.title	Algeria Economic Update, Fall 2023	en
dc.title	Rapport de suivi de la situation économique en Algérie, automne 2023	fr
dc.title.subtitle	Continuing the Diversification Effort	en
dc.title.subtitle	Poursuivre l’effort de diversification	fr
dc.type	Report
dspace.entity.type	Publication
okr.crossref.title	Algeria Economic Update, Fall 2023: Continuing the Diversification Effort
okr.date.disclosure	2023-11-08
okr.date.lastmodified	2023-10-26T00:00:00Z	en
okr.date.lastmodified	2023-10-26T00:00:00Z	fr
okr.doctype	Economic & Sector Work
okr.doctype	Economic & Sector Work::Economic Updates and Modeling
okr.docurl	http://documents.worldbank.org/curated/en/099514310252319658/IDU0a007dcea0411604dc009a830ad4ea8f93962
okr.guid	099514310252319658
okr.guid	099528510252338322
okr.guid	099520510252314260
okr.identifier.docmid	IDU-a007dcea-4116-4dc0-9a83-ad4ea8f93962
okr.identifier.doi	http://dx.doi.org/10.1596/40587
okr.identifier.externaldocumentum	34185853
okr.identifier.internaldocumentum	34185853
okr.identifier.report	185491
okr.import.id	2258
okr.imported	true	en
okr.imported	true	fr
okr.language.supported	en
okr.language.supported	fr	fr
okr.pdfurl	http://documents.worldbank.org/curated/en/099514310252319658/pdf/IDU0a007dcea0411604dc009a830ad4ea8f93962.pdf	en
okr.pdfurl	http://documents.worldbank.org/curated/en/099520510252314260/pdf/IDU0008f010d06b2704f6e089d408448b4c37541.pdf	fr
okr.region.administrative	Middle East and North Africa
okr.region.country	Algeria
okr.topic	Energy::Oil & Gas
okr.topic	Macroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topic	Macroeconomics and Economic Growth::Economic Forecasting
okr.txturl	http://documents.worldbank.org/curated/en/099520510252314260/text/IDU0008f010d06b2704f6e089d408448b4c37541.txt	fr
okr.unit	MNA External Affairs (ECRMN)

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Algeria Economic Update, Fall 2023: Continuing the Diversification Effort