The Algerian economy grew by 2.6 percent last year, one percentage point down from government forecasts, a government-run think-tank said on Tuesday, May 15.
The Social and Economic National Council, a relatively independent body known by its French initials CNES, said inflation last year was 0.3 percent, down from 2.6 percent in 1999.
The government, which has not released official figures for Gross Domestic Product in 2000, has forecast GDP growth of 4.1 percent for 2001.
President Abdelaziz Bouteflika said last month his government also forecast a growth of between four and six percent for the oil-reliant economy in the next four years.
He said this would be achieved thanks to the injection of $7.3 billion in the economy in infrastructure projects and subsidies to the public sector plus an additional three to four billion dollars of foreign credits to boost the productive sector.
According to the CNES, Algeria's trade surplus amounted to $9.9 billion in 2000, up from $2.8 billion in 1999, and it highlighted an increase of nearly 35 percent in non-hydrocarbon exports to $630 million.
Foreign debt fell by 12 percent to $25.2 billion or 19.8 percent of GDP in 2000. ― (Reuters, Algiers)
© Reuters 2001
© 2001 Mena Report (www.menareport.com)