IMF says Algeria’s short-term economic outlook remains positive

ALGIERS, Algeria (MNTV) — Algeria’s short-term economic prospects remain positive despite global uncertainty, according to the International Monetary Fund (IMF), which concluded its Article IV consultation with the country this week.

Speaking at a press conference in Algiers on Monday, Charalambos Tsangarides, head of the IMF mission to Algeria, said the country’s economy is showing resilience, with notable progress in key sectors and falling inflation.

“Algeria’s economic prospects, in the short term, remain generally positive, despite the global uncertainties,” Tsangarides said, summarizing the findings of the IMF delegation following its official visit.

According to the IMF, Algeria’s economy grew by 3.6% in 2024, supported by continued dynamism in non-hydrocarbon sectors. The diversification of the economy beyond oil and gas is beginning to yield results, the Fund noted.

At the same time, inflation showed a marked decline, falling to 4.1% in 2024 from 9.3% in the previous year. The sharp drop is seen as a key sign of macroeconomic stabilization and improved monetary conditions.

The IMF also welcomed ongoing economic reforms aimed at strengthening the business environment and attracting investment. Tsangarides cited Algeria’s efforts to establish a centralized single window for economic land allocation as a step toward improving regulatory efficiency and supporting private sector growth.

The visit falls under Article IV of the IMF’s Articles of Agreement, which involve regular consultations with member countries to assess economic performance and policy frameworks.