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    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

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    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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Algeria – IMF Expects Progressive Drop in Budget Deficit Over Next Five Years

bycitibusinessnews
October 7, 2016
in Africa, North Africa
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Algeria’s budget deficit, which increased in 2015, would progress over the next five years, according to the last forecasts of the International Monetary Fund (IMF) released Wednesday.

The global budget deficit will decrease as from this year to -12.9% against -16.2% of the GDP and will progressively decline to -3.9% of the GDP in 2021, according to the IMF’s forecasts.

For this year, the decline (-12.9%) would be more significant than IMF’s forecasts in its report released in April, in which it banked on a -14.6% deficit. The review reflects a good rationalization of public spending.

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For 2017, Algeria’s budget deficit would decrease to -9.3% of the GDP, according to the same forecasts.

Besides, the IMF slightly raised forecast of Algeria’s incomes for this year, which would decline from 27.9% of the GDP against 26.2%.

Algeria’s incomes have been affected by the drop in oil price but would increase from 29.6% of the GDP in 2017 to 31.2% of the GDP in 2021.

State’s spending would decrease to 35.1% of the GDP in 2021.

The public debt would hit 13% of GDP in 2016 against 9.1% of GDP in 2015.

–

Credit: All Africa

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