Exchange Rate in Algeria
Algeria - Exchange RateLow prices for oil and gas, which account for 90% of the country’s exports and 60% of the budget, continued to cap growth in the second quarter, with GDP expanding a weak 0.3% year-on-year. In an attempt to boost oil and gas output, on 13 October the cabinet approved a new energy law, which now has to be passed in Parliament. The bill, which intends to remove some of the existing restrictions to foreign investment in the hydrocarbon sector, triggered protests as it was seen as a move by the military elite to strengthen their grip on power. In other news, the government unveiled the 2020 budget a few weeks earlier, which includes a 9.2% cut in public spending and a reduction of the public deficit to 7.2% of GDP. Politically sensitive subsidies were left unchanged, however, with one eye on the long-overdue presidential elections scheduled for 12 December.
Algeria - Exchange Rate Data
|Exchange Rate (vs USD)||78.42||87.92||107.1||110.4||114.8|
5 years of economic forecasts for more than 30 economic indicators.
Algeria Exchange Rate Chart
Source: Thomson Reuters.
|Exchange Rate||120.2||-0.11 %||Sep 04|
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