Algerian President approves 2025 budget, forecasting 4.5% growth with $60 oil price target.

Algerian President Tebboune has approved the 2025 budget, forecasting a 4.5% economic growth rate based on an oil price of $60 per barrel. Public spending will rise by 9.9% to 16,794.61 billion dinars, with revenues up 3.5% at 8,523.06 billion dinars, leading to a deficit of 8,271.55 billion dinars. Exports are projected at $50.9 billion, imports at $46.07 billion, and a trade surplus of $4.83 billion. The World Bank reported Algeria's strong 2024 performance, with 3.9% growth and 4.3% inflation, driven by agriculture and non-hydrocarbon sectors.

November 24, 2024
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