Macroeconomic Forecast Algeria

March 2007 | Macroeconomic Forecasts

We have revised our 2006 growth rate on the basis of a sharp fall in oil production growth last year, which slid from 3.6% y-o-y growth in 2005 to 0.7% in 2006. We expect oil production levels to remain static in 2007, before picking back up in 2008, though robust gas production looks set to continue throughout the forecast period. While the lower growth in 2006 is disappointing, continued expansionary fiscal policy in 2007, an election year, and infrastructure development efforts should provide a boost to economic growth in 2007 and thereafter.

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