Algeria 2021 Article Iv Consultation Press Release And Staff Report And Statement By The Executive Director For Algeria

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1616357940
Total Pages : 87 pages
Book Rating : 4.48/5 ( download)

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Download or read book Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-02 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concomitant Covid-19 pandemic and oil price shock in 2020 have taken a heavy toll on the Algerian economy and the population. The authorities’ response helped mitigate the social and economic impact of the crisis. Nevertheless, the crisis exacerbated the Algerian economy’s vulnerabilities, making even more urgent the need for a new, more inclusive and sustainable, growth model. A recovery is underway in 2021, but the outlook remains challenging. While the recent rebound in hydrocarbon prices should buoy the recovery and ease immediate financing constraints, addressing long-standing structural challenges will help to realize Algeria’s vast growth potential for the benefit of its population.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1616355719
Total Pages : 97 pages
Book Rating : 4.15/5 ( download)

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Download or read book Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-23 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concomitant Covid-19 pandemic and oil price shock in 2020 have taken a heavy toll on the Algerian economy and the population. The authorities’ response helped mitigate the social and economic impact of the crisis. Nevertheless, the crisis exacerbated the Algerian economy’s vulnerabilities, making even more urgent the need for a new, more inclusive and sustainable, growth model. A recovery is underway in 2021, but the outlook remains challenging. While the recent rebound in hydrocarbon prices should buoy the recovery and ease immediate financing constraints, addressing long-standing structural challenges will help to realize Algeria’s vast growth potential for the benefit of its population.

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Book Rating : 4.81/5 ( download)

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Download or read book Algeria written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 94 pages
Book Rating : 4.78/5 ( download)

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Download or read book Algeria written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-04-12 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Algerian economy was still emerging from the Covid pandemic when it was hit by spillovers from Russia’s war in Ukraine and by recurrent droughts. These shocks fueled inflation while high international hydrocarbon prices also boosted government revenue and exports. Algeria’s economy likely recorded a robust growth in 2023 and the external position remained solid, with a current account surplus for the second year in a row and further accumulation of international reserves. Inflation remains elevated and could become entrenched. The 2023–24 budgets aim at supporting the purchasing power of households but risk depleting the buffers that protect the budget from revenue volatility. Structural reforms are advancing with the enactment of the Monetary and Banking law and the implementation of program budgeting and the 2022 Investment Law. Investment in digitalization would strengthen governance and transparency, reduce corruption risks, and improve service delivery.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484361717
Total Pages : 74 pages
Book Rating : 4.19/5 ( download)

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Download or read book Algeria written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2018-06-13 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: To adjust to lower oil prices since 2014, Algeria initially relied solely on exchange rate policy before putting most of the burden on fiscal consolidation. In parallel, the government initiated several structural reforms and started designing a long-term plan to reshape the country’s growth model, while the central bank was modernizing its monetary policy framework. However, confronted with slowing growth, increasing unemployment, and financing difficulties, the authorities recently chose to boost activity through increased spending in 2018, to be followed by a steep fiscal consolidation from 2019 onward. With fiscal savings depleted and reluctant to borrow externally, they turned to monetary financing. To reduce the trade deficit and foster import substitution, they hardened import barriers.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 151358779X
Total Pages : 111 pages
Book Rating : 4.90/5 ( download)

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Download or read book Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-06 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513597752
Total Pages : 84 pages
Book Rating : 4.51/5 ( download)

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Download or read book Georgia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Georgia written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-21 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: High frequency estimates suggest a V-shaped recovery with output now poised to return close to 2019 levels already this year, much earlier than expected. Recently COVID-19 case numbers have risen sharply to new highs while vaccinations have also accelerated significantly after a slow start. The recovery has improved the fiscal outlook and the authorities submitted to Parliament a supplementary budget, with GEL 1.2 billion in additional spending roughly equivalent to the expected increase in revenues. The National Bank of Georgia (NBG) has increased the policy rate by 200 basis points to deal with high inflation driven by lagging effects of depreciation, commodity and food price increases, and supply side constraints.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475543948
Total Pages : 60 pages
Book Rating : 4.40/5 ( download)

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Download or read book Algeria written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2014-12-11 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that economic activity in Algeria has picked up in 2014, with real GDP growth projected to reach 4 percent following 2.8 percent growth in 2013. The hydrocarbon sector is expected to expand for the first time in eight years, while nonhydrocarbon growth remains supportive. Inflation has decelerated sharply to 2.1 percent, thanks in part to tighter monetary policy. The fiscal deficit is expected to widen to more than 7 percent owing to lower hydrocarbon revenue, a sharp increase in capital expenditure, and continued high current spending. Fiscal savings are expected to decline for the second consecutive year.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1513573179
Total Pages : 95 pages
Book Rating : 4.75/5 ( download)

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Download or read book Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-11 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Turkey, as in other countries, the human and economic toll of the COVID-19 pandemic has been severe. Thousands of lives have been tragically lost and many livelihoods compromised. The initial policy response to the pandemic—and subsequent sharp growth rebound—set Turkey apart from its peers. Rapid monetary and credit expansion and large liquidity support meant that Turkey was among the few countries to experience positive economic growth in 2020. But these policies also aggravated pre-existing economic and financial vulnerabilities. Higher inflation, increased dollarization, and a large shift in the current account position increased pressure on the lira and gave rise to heavy foreign exchange sales, which led in turn to steep reserve declines from already-low levels. A policy shift in late 2020—mainly towards tighter and more transparent monetary policy and slower credit growth—was both welcome and necessary. But the durability and depth of the shift were called into question in March 2021, following the change in central bank leadership, as the lira weakened markedly and interest rate spreads widened.

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 1616352981
Total Pages : 127 pages
Book Rating : 4.81/5 ( download)

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Download or read book Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-03 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.