Algeria: 2022 Article IV Consultation-Press Release; and Staff Report
Algeria: 2022 Article IV Consultation-Press Release; and Staff Report
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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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International - Economics , Business and Economics - Statistics , Public Finance , Money and Monetary Policy , Inflation , Banks and Banking , 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.
