Macroeconomic Forecast Algeria

September 2006 | Macroeconomic Forecasts

Driven by government spending underpinned by high hydrocarbon revenues, we expect the Algerian economy to grow by 5.5% in 2006 and relatively robustly over the rest of the forecast period. With our 2006 US$61.5/bbl OPEC basket price forecast looking likely to be more or less spot on, we have revised up our oil price expectations 2007-2010. We now expect the OPEC basket average to fetch US$58.5/bbl in 2007 (up from US$53.8/bbl), US$50.5/bbl in 2008 (from US$48.1/bbl), US$47.5/bbl in 2009 (from US$46.1/bbl), and US$45.5/bbl (from US$45.1/bbl).

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