The worldwide drop in oil prices doesn’t seem to hinder the momentum of reforms in Algeria which “withstands” to this external crisis and continues its socio-economic reforms.
Prime Minister Abdelmalek Sellal reiterated, in Saida, that the country remains resilient to the collapse of the oil prices which has however halved its oil taxation.
“Despite the collapse of oil market and the reduction by half of the oil taxation, Algeria withstands and continues to improve its economic performance,” said Sellal in a working visit to Saida.
Sellal said that the growth rate, the most important indicator according to him, remains positive, reaching 3.5% in 2016 and 3.9% in 2017, according to the forecasts.
The Algerian GDP will rise from DZD16,700 billion in 2015 to DZD17,677 billion by the end of 2016 then to DZD22,00 billion in 2019, he underlined.
The country’s currency reserves are “good” and will not fall under US$100 billion by 2019, according to the Prime Minister.
Concerning inflation, Sellal stressed that it remains stable between 4 and 5%.
These achievements haven’t been carried out by chance but the fruit of the socio-economic reforms undertaken by Algeria in terms of budget and trade policies, according to him.
Sellal promised that the new model of growth, adopted on 26 July 2016 by the Council of Minister, will further preserve the Algerians’ social gains.
Credit: All Africa