Algeria Economic Outlook
September 7, 2021Q1 ushered in an economic recovery, with growth returning for the first time since the start of the pandemic amid improvements in private consumption, fixed capital investment and exports. Falling imports and heftier government spending also contributed. Looking at the breakdown by industry, the energy sector was the key driver. However, the reading was flattered by a base effect, while weak wage growth and elevated unemployment will have kept a lid on domestic demand. Looking beyond Q1, looser restrictions from late March and the reopening of borders from June should have aided activity. Moreover, oil output continued to rise through July. However, the nightly curfew was extended in July and August amid a rock-bottom vaccination rate and steadily rising Covid-19 cases. Lastly, recent wildfires could stoke ongoing social discontent and threaten economic and political stability.
Algeria Economic GrowthIn 2021, the economy is foreseen growing at a reasonable pace as private consumption and fixed capital investment recover somewhat, following the fall in demand seen last year. Nonetheless, social divisions, uncertainty regarding virus mutations and the vaccine program, plus still-subdued oil output, will all keep activity muted. FocusEconomics panelists foresee the economy growing 2.8% in 2021, which is unchanged from last month’s estimate, and 3.0% in 2022.
Algeria Economy Data
5 years of Algeria economic forecasts for more than 30 economic indicators.
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|Exchange Rate||119.1||-0.11 %||Jan 01|
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