IMF outlook update: Growth forecasts for Algeria in 2016, 2017 unchanged

APS : Tuesday, 17 January 2017
WASHINGTON – The International Monetary Fund (IMF) on Monday kept its growth projection for Algeria in 2016 and 2017, while predicting, in its world economic outlook, an acceleration of the national economic growth in 2021.
According to the Bretton Woods Institution, Algeria’s Gross Domestic Product increased 3.6% in 2016, as assumed in its last October’s report.
The IMF has also kept unchanged its growth projections for 2017 at 2.9% and assumes a recovery at 3.4% as from 2021, as well as the predictions on inflation in 2016 at 5.6% against 4.4% in 2015 and at 4.8% in 2017.
The current account balance accounted for -15.1% of GDP in 2016 and is expected to drop to -13.7% of the GDP in 2017.
It would maintain the same downtrend until 2021 at -6.3%.
Besides, the IMF kept its world growth forecasts at 3.4% in 2017 and at 3.6% in 2018.
The “estimations and the projections of the world growth for 2016-2018 remain unchanged compared to 2016,” said the IMF.
The prospects for the o developed countries improved for 2017-2018, driven by a mild recovery of activity at the second half of 2016 and the fiscal stimulus expected in the U.S.
However, the growth forecasts for the emerging countries and the developing countries deteriorated, due to difficult financial situation.
The short-term forecasts for growth have been revised upward for China, but revised downward for some countries like Indian Brazil and Mexico, according to the IMF’s updated figures.

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