Macroeconomic Forecast Algeria

September 2008 | Macroeconomic Forecasts

According to figures from the International Monetary Fund (IMF), Algeria's foreign exchange reserves reached US$133.4bn at the end of June, up 46.4% y-o-y. We have pencilled in a figure of US$148.7bn by year-end, an increase of 35% on 2007. This reflects our view that foreign exchange accumulation will slow slightly during the second half of the year, due to the drop in oil prices.

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