Algiers: The economic prospects of Algeria, in the short term, remain positive, despite global uncertainties, the head of the International Monetary Fund (IMF) mission in Algeria, Charalambos Tsangarides, said Monday in Algiers. ‘Algeria’s economic prospects, in the short term, remain generally positive, despite the global uncertainties,’ he said in a press conference at the end of the mission of the delegation he led in Algeria, carried out under article IV of the Fund’s statutes.
According to Algeria Press Service, Algeria’s economic growth is projected to stand at 3.6% in 2024. The IMF’s representative underlined that, in the same year, the non-hydrocarbon sectors ‘remained dynamic.’ This trend was accompanied by a sharp decrease in inflation, which is expected to reach 4.1% in 2024, compared to 9.3% in 2023.
In this respect, Charalambos Tsangarides emphasized the reforms undertaken in Algeria, notably in terms of diversifying the economy, improving the business climate, and boosting investment. He cited the implementation of a centralized single window devoted to economic land as a significant measure in these reforms.