The surge in the price of hydrocarbons, which is the misfortune of several countries, is a boon for Algeria. The significant financial windfall from oil and gas exports is giving new impetus to economic growth.
The International Monetary Fund (IMF) estimated, in its report on the outlook for the world economy published on October 11, that the Algerian economy should record a growth of 4.7% in 2022, thanks in particular to the increase in revenues. hydrocarbon exports.
The new forecast from the multilateral financial institution is higher than its previous estimate of 2.4%, dating from last April.
For the year 2023, the Fund expects Algeria’s real Gross Domestic Product (GDP) growth to slow to 2.6%, in a context of falling hydrocarbon prices and global demand.
The IMF specifies, on the other hand, that the balance of current transactions of Algeria should return to the positive zone to settle at 6.2% of GDP in 2022, and at 0.6% of GDP in 2023, after reaching -2.8% of GDP in 2021.
According to the Fund’s estimates, revenues from Algerian hydrocarbon exports should peak at some $58 billion in 2022, compared to $34 billion in 2021.