Algeria Economic Outlook
October 2, 2018The oil-sector, led by state firm Sonatrach’s USD 56 billion investment plan for the 2018–2022 period, continues to propel economic momentum, while non-oil growth remains feeble amid extremely high youth unemployment. Sonatrach recently announced several new projects, including a USD 6 billion phosphate plant in a joint-venture with Chinese firms, a new USD 280 million gas pipeline to boost exports to Europe, and the start of offshore drilling in 2019. It will also increase LNG exports to Turkey by a billion cubic meters a year starting next year. Meanwhile, the government’s recently unveiled draft budget for 2019 sees a 1.5% spending reduction and the postponement of subsidy cuts.
Algeria Economic GrowthHigher oil prices and output should drive growth in 2019 and beyond, aided by a new energy law expected early next year which should bolster foreign investment in the sector. The large fiscal deficit, however, will continue to hang over the economy. FocusEconomics panelists expect GDP to grow 2.5% in 2018 and 2.4% in 2019, which is down 0.1 percentage points from last month’s forecast.
Algeria Economy Data
5 years of Algeria economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Exchange Rate||118.3||-0.11 %||Oct 12|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.