Finance: Algeria’s economic growth at 2.3% in 2018

APS : Friday, 18 January 2019
ALGIERS- Algeria’s economic growth hit 2.3% in 2018 against 1.4% in 2017, while 2018 finance law banked on a 4% growth, according to the provisional data of Finance Ministry.
The Algerian gross domestic product (GDP) reached DZD20,509.5 billion in 2018 against DZD18,594.1 billion in 2017, said the ministry.
In dollars, the national GDP reached USD178.3 in 2018 against USD167.6 billion in 2017, according to the conversion made by the ministry.
Non-hydrocarbon GDP increased by 4% in 2018 against 2.2% in 2017, according to the source.
The ministry said that the average export price of the Algerian oil reached USD72.43 in 2018 against USD52.71 in 2017.
The average exchange rate DZD/USD of 2018’s twelve months reached DZD116.62 per dollar against DZD110.96 per dollar for 2017’s twelve months while the average exchange rate DZD/Euro was DZD137.69 per Euro against DZD125.32 per Euro for 2017, according to the source.
The ministry added that 2018’s average inflation rate hit 4.27% against 5.59 in 2017.
2018 finance law anticipated a 5.5% inflation.

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