Macroeconomic Forecast Algeria

Given that hydrocarbons account for around 97% of Algeria's goods exports and that global energy prices are lower this year, the surplus on the country's current account will certainly narrow in 2009. It will nevertheless still remain large, and will do so for the foreseeable future (barring major and long-lasting disruptions to hydrocarbon production). We forecast healthy current account surpluses of 10.5% and 11.9% of GDP in 2009 and 2010 respectively.

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