Algeria Economic Update - Fall 2021 : Restoring the Algerian Economy after the Pandemic
Algeria is enjoying temporarily breathing space, as hydrocarbon prices reach new highs and the Coronavirus (COVID-19) pandemic eases. After peaking during the summer, the number of daily Coronavirus (COVID-19) cases plummeted in the Fall, while the...
| Format: | Report |
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| Language: | French French |
| Published: |
Washington, DC: World Bank
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/667961640162288726/Algeria-Economic-Monitor-Restoring-the-Algerian-Economy-after-the-Pandemic http://hdl.handle.net/10986/37048 |
| Summary: | Algeria is enjoying temporarily
breathing space, as hydrocarbon prices reach new highs and
the Coronavirus (COVID-19) pandemic eases. After peaking
during the summer, the number of daily Coronavirus
(COVID-19) cases plummeted in the Fall, while the
vaccination campaign accelerated. Meanwhile, global oil and
gas prices are reaching levels unseen since before the 2014
oil crisis, allowing for a gradual recovery in crude oil
production quotas, and a surge in natural gas production and
exports. Surging hydrocarbon exports revenues are
contributing to a marked decline in external financing needs
and to the short-term stabilization in growing domestic
financing needs. Meanwhile, the economic recovery in
non-hydrocarbon sectors lost steam, remaining largely
incomplete, while inflationary risks are materializing.
Absent decisive implementation of the reform agenda, the
economic outlook points to a fragile recovery, and to
deteriorating fiscal and external balances in the
medium-term. Algeria’s intact dependance on
hydrocarbon revenues, the spread of new Coronavirus
(COVID-19) variants and the pace of the announced reform
effort remain the key sources of risks to the outlook. |
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