Algeria: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Algeria

Author: International Monetary Fund

Volume/Issue: Volume 2011 Issue 039

Publication date: February 2011

ISBN: 9781455216581

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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , private sector development , capital expenditure , FDI regulation , reform , containing government spending , Selected Issues paper , wage bill , Current spending , Oil prices , Credit , State-owned banks , Global

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Summary

Despite the effects of the international crisis, real nonhydrocarbon GDP (NHGDP) growth in 2009 exceeded the average of 6 percent. Algeria’s good economic performance supported by the authorities’ prudent fiscal and monetary policies and the favorable external environment are welcomed. The authorities’ policy to maintain the real effective exchange rate close to equilibrium, which is consistent with external stability, is encouraged. Containing government spending would contribute to reducing pressures for real exchange appreciation and potential Dutch disease effects.