Algeria: IMF expects progressive drop in budget deficit over next five years
APS : Wednesday, 05 October 2016
WASHINGTON-Algeria’s budget deficit, which increased in 2015, would progressively over the next five years, according to the last forecasts of the International Monetary Fund (IMF) released Wednesday.
The global budget deficit will decrease as from this year to -12.9% against -16.2% of the GDP and will progressively decline to -3.9% of the GDP in 2021, according to the IMF’s forecasts.
For this year, the decline (-12.9%) would be more significant than IMF’s forecasts in its report released in April, in which it banked on a -14.6% deficit. The review reflects a good rationalization of public spending.
For 2017, Algeria’s budget deficit would decrease to -9.3% of the GDP, according to the same forecasts.
Besides, the IMF slightly raised forecast of Algeria’s incomes for this year, which would decline from 27.9% of the GDP against 26.2%.
Algeria’s incomes have been affected by the drop in oil price but would increase from 29.6% of the GDP in 2017 to 31.2% of the GDP in 2021.
State’s spending would decrease to 35.1% of the GDP in 2021.
The public debt would hit 13% of GDP in 2016 against 9.1% of GDP in 2015.
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