ALGIERS, Nov. 24 (Xinhua) -- Algerian President Abdelmadjid Tebboune on Sunday signed the 2025 budget law, projecting an economic growth rate of 4.5 percent, according to a statement from the presidency.

The budget is based on a reference oil price of 60 U.S. dollars per barrel for the 2025-2027 period. The government expects gross domestic product (GDP) growth to accelerate, reaching 4.5 percent in 2025-2026, compared to 4.2 percent in 2024, and forecasts a 5-percent growth rate in the non-hydrocarbon sector.

Public spending for 2025 is set at 16,794.61 billion dinars (about 126 billion dollars), marking a 9.9 percent increase from 2024. Budgeted revenues are estimated at 8,523.06 billion dinars, reflecting a 3.5 percent rise, while the deficit is projected at 8,271.55 billion dinars.

Key economic indicators include projected exports of 50.9 billion dollars, imports of 46.07 billion dollars, and a trade surplus of 4.83 billion dollars. A balance of payments surplus of 1.17 billion dollars and foreign exchange reserves of 72.95 billion dollars, covering 16 months of imports, are also anticipated.

A recent World Bank report highlighted Algeria's "strong" economic performance in 2024. Growth in the first half of the year reached 3.9 percent, driven by "resilient" agricultural output. Inflation also improved significantly, falling to 4.3 percent during the first nine months of 2024.

The report emphasized that non-hydrocarbon sectors and investment played a vital role in sustaining Algeria's economic momentum during the first half of 2024. Enditem

Related

Go to Forum >>0 Comment(s)