Algeria: Staff Report for the 2002 Article IV Consultation
Volume/Issue:
Volume 2003
Issue 068
Publication date: March 2003
ISBN: 9781451811384
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , hydrocarbon export proceeds , stronger-than-expected hydrocarbon export volume , inflation rate , report , hydrocarbon export , staff appraisal , IMF staff representative , euro exchange rate vis-à-vis , IMF staff estimate , Oil prices , Inflation , Public enterprises
Summary
This 2002 Article IV Consultation highlights that the overall budget balance of Algeria weakened in 2001 and the first half of 2002. This deterioration mainly reflected higher spending and a decline in hydrocarbon revenues owing to a reduction in volumes and prices. The overall balance dropped from a surplus of 9.8 percent of GDP in 2000 to a surplus of 3.4 percent of GDP in 2001 and to a small deficit in the first half of 2002. Regarding structural reforms, some progress has been achieved in two areas: economic liberalization and privatization/public sector restructuring.
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