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Algeria GDP up 3.8% in 2016

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Staff Writer | April 19, 2017
The economy of Algeria grew by 3.8% in 2016, nearly flat with the 3.9% rate recorded in 2015, despite the oil price slump.
Algeria street
Africa   Production of hydrocarbons
This year, however, growth should be weaker at 1.5% as a result of the rebalancing of national finances.

The data are from a report on the economy scenario in the Middle East and North Africa made public by the World Bank.

Performance in 2016 was mostly driven by pickup in production of hydrocarbons (oil, gas and their products), which was up 3.6%, up from only 0.4% the preceding year.

In 2018, the World Bank sees Algeria’s economy slowing further at 0.6% growth, and then rebounding in 2019, when Gross Domestic Product (GDP) could be up 1.5%.