Algeria Economic Outlook
January 14, 2020Economic growth accelerated in the third quarter as the economy benefited from a healthy rebound in the hydrocarbon sector. In fact, the hydrocarbon sector posted its first annual increase in two years. The non-energy economy, however, performed poorly as bad weather hit agricultural production and a protracted political crisis dampened both business and consumer confidence. On the political front, Abdelmadjid Tebboune won the 12 December presidential election and appointed a new government on 2 January. Although Tebboune attempted to assuage protester’s concerns, mass rallies continued, with demonstrators accusing the new President of being part of the traditional political establishment. Algeria’s political crisis has been exacerbated by an ailing economy caused by a massive drop in oil revenues.
Algeria Economic GrowthThe economy is expected to recover this year from the soft patch in 2019. That said, the recovery should be limited as economic fundamentals remain weak. Lack of investment in the hydrocarbon sector due to years of severe protectionist policies, large twin deficits, high unemployment among youth and political unrest will continue to weigh on economic dynamics. FocusEconomics panelists expect growth of 1.7% in 2020, which is unchanged from last month’s forecast, and 1.8% in 2021.
Algeria Economy Data
5 years of Algeria economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Exchange Rate||119.1||-0.11 %||Jan 01|
Request a 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.