Algeria: 2022 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Middle East and Central Asia Dept.

Volume/Issue: Volume 2023 Issue 068

Publication date: February 2023

ISBN: 9798400233425

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Topics covered in this book

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Banks and Banking , Inflation , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , money market rate , oil prices decline , financial asset , liability positions vis-à-vis nonresident , headline inflation , Inflation , Budget planning and preparation , State-owned banks , Tax administration core functions , Budget execution and treasury management , Global , Middle East and Central Asia

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Summary

Algeria’s economic recovery from the pandemic has been buoyed by the rise in international hydrocarbon prices. Fiscal and external surpluses are expected in 2022 for the first time in years. Inflation has nevertheless accelerated, as elsewhere, and has become a complex policy challenge. Monetary policy remained accommodative, while the dinar appreciated in the second half of the year. The authorities have gradually advanced on their structural reform agenda, with the enactment of a new law on investment, renewed efforts to accelerate digitalization, significant progress on tax and public finance management reforms, and a forthcoming revision to the central bank law.