The International Monetary Fund praises the economic reforms in Algeria


The official at the International Monetary Fund, Chris Geregat, said that the agency’s mission appreciates the remarkable development in the public financial situation in Algeria as a result of the economic reforms that have been undertaken.

Chris explained, in a report he read during a press conference for the International Monetary Fund mission after the conclusion of the 2023 consultations, that Algeria recorded excellent balance of payments rates during the year 2023, and the general indicators of the economy will improve after the reforms carried out by the authorities aimed at diversifying the economy, highlighting that growth reached 4.2. percent in December 2023 and will maintain this percentage during the coming year.

The representative of the International Monetary Fund indicated that reforms must be continued, adding: “We encourage Algeria to carry out these reforms.”

The same spokesman called on Algeria to make more efforts to improve the investment climate and search for new investment opportunities, especially in the hydrocarbons sector, adding: “We value the decisions of Algerian banks to open agencies abroad to accompany economic clients, and we call for their continued implementation.”

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