| Description |
1 online resource (61 pages) : color illustrations |
| Series |
IMF country report, 1934-7685 ; no. 16/127 |
|
IMF country report ; no. 16/127
|
| Contents |
A press release -- The staff report prepared by a staff team of the IMF for the Executive Board's consideration on a lapse of time basis, following discussions that ended on March 14, 2016, with the officials of Algeria on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on April 29, 2016 -- An informational annex prepared by the IMF staff |
| Summary |
The oil price shock has hit Algeria's economy hard and exposed the longstanding vulnerabilities of a growth model dependent on hydrocarbon and public spending. The fiscal position--already weakened by a ramp-up in spending in the wake of the Arab Spring--has deteriorated further as oil revenues plummeted. Once-substantial fiscal savings have been nearly depleted to finance large budget deficits. Following several years of comfortable surpluses, the current account balance has swung sharply into deficit and official reserves, while still large, are diminishing. The banking system as a whole appears healthy, but financial stability risks are increasing. The policy response in 2015 was insufficient, but the 2016 budget calls for a sharp reduction in spending, and the authorities have initiated some reforms, including a much needed reform of the subsidy system |
| Analysis |
Article IV consultation reports |
|
External shocks |
|
Fiscal consolidation |
|
Fiscal reforms |
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Oil prices |
| Notes |
"May 2016." |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from pdf title page (IMF.org website, viewed May 20, 2016) |
| Subject |
International Monetary Fund -- Algeria
|
| SUBJECT |
International Monetary Fund. fast (OCoLC)fst00556666 |
| Subject |
Petroleum products -- Prices -- Algeria
|
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Fiscal policy -- Algeria
|
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Financial risk management -- Algeria
|
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Banks and banking -- Algeria
|
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Banks and banking.
|
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Economic history.
|
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Expenditures, Public.
|
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Financial risk management.
|
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Fiscal policy.
|
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Petroleum products -- Prices.
|
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Deficit.
|
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Exchange rate.
|
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Exchange.
|
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Oil prices.
|
| SUBJECT |
Algeria -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85003449
|
|
Algeria -- Appropriations and expenditures
|
| Subject |
Algeria.
|
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Algeria.
|
|
Middle East.
|
| Form |
Electronic book
|
| Author |
International Monetary Fund, publisher
|
| ISBN |
1484358430 |
|
9781484358436 |
| ISSN |
1934-7685 |
|
