The governor of the Bank of Algeria, Mohamed Laksaci, presented his annual macroeconomic report, Monday, October 25. According to it, there was an increase of 8.8% in financing of the economy in 2003 compared to 2002.
Credits granted to the private sector increased to 6.6% and those accorded to the public sector grew by 10.6%. The 5 public banks show a high state of liquidity. The economy's credits are still relatively weak compared to GDP in the Mediterranean region as a whole.
Mohamed Laksaci spoke at length on the development of the banking sector. He spoke also about the interventions of the World Bank and IMF and said that control of the banking sector still needs addressing and the need to avoid the crisis that happened in 2003. (menareport.com)
