{"id":233243,"date":"2022-08-03T22:46:24","date_gmt":"2022-08-03T20:46:24","guid":{"rendered":"https:\/\/www.africa-newsroom.com\/press\/algeria-economic-update-strengthening-resilience-in-favorable-times?lang=en"},"modified":"2022-08-03T22:46:24","modified_gmt":"2022-08-03T20:46:24","slug":"algeria-economic-update-strengthening-resilience-in-favorable-times","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/algeria-economic-update-strengthening-resilience-in-favorable-times\/","title":{"rendered":"Algeria Economic Update: Strengthening Resilience in Favorable Times"},"content":{"rendered":"<p><a href=\"https:\/\/www.africa-newsroom.com\/files\/large\/b6f288a36364448\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.africa-newsroom.com\/files\/large\/b6f288a36364448\" alt=\"The World Bank Group\" style=\"max-width:500px\" \/><\/a><br \/><a href=\"https:\/\/www.africa-newsroom.com\/files\/download\/b6f288a36364448\">Download logo<\/a><br \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.africa-newsroom.com\/africarc\/loganalytics?press_id=210721&amp;press_source=The World Bank Group\" width=\"1\" height=\"1\" \/><\/p>\n<p>In 2021, the recovery was driven by the hydrocarbon sector and a stronger recovery in the services sector, despite a drop in agricultural activity. On a full year basis, non-hydrocarbon GDP remained 1.6 percent below its 2019 level, while hydrocarbon GDP approached this level. The recovery in employment opportunities continued but remained incomplete, and inflation continued to rise.<\/p>\n<\/p>\n<p>The continued rise in global hydrocarbon prices has led to a marked improvement in macroeconomic balances. Algeria&rsquo;s trade balance went from a deficit of 9.4 percent of GDP in 2020 to a 0.7 percent surplus in 2021, led by a 70 percent increase in hydrocarbon export revenues. Meanwhile, the overall budget deficit narrowed, from 12% to 7.2% of GDP, supported by the jump in hydrocarbon revenues, a moderate increase in non-hydrocarbon revenues, and the lack of a marked recovery in public investment.<\/p>\n<p>In 2022, activity in the hydrocarbon sector should continue to support growth, and activity in the non-hydrocarbon sectors will return to its pre-pandemic level. Hydrocarbon exports are expected to remain at a high level, generating a current account surplus and a marked increase in fiscal revenues. Macroeconomic balances remain dependent on fluctuations in highly volatile world oil prices, in a context of uncertainty surrounding the evolution of the war in Ukraine and the dynamics of the global economy.<\/p>\n<p><i>Distributed by APO Group on behalf of The World Bank Group.<\/i><\/p>\n<\/div>\n<p> <a href=\"https:\/\/www.africa-newsroom.com\/\">Source: Africa Newsroom &#8211; APO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download logo In 2021, the recovery was driven by the hydrocarbon sector and a stronger recovery in the services sector, despite a drop in agricultural activity. On a full year basis, non-hydrocarbon GDP remained 1.6 percent below its 2019 level, while hydrocarbon GDP approached this level. The recovery in employment opportunities continued but remained incomplete, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":233244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4584],"tags":[4585],"class_list":{"0":"post-233243","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-africa-news-2","8":"tag-apo","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/08\/algeria-economic-update-strengthening-resilience-in-favorable-times.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/233243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=233243"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/233243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/233244"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=233243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=233243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=233243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}