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Head of IMF mission hails Algeria’s economic performances in 2013

ALGIERS- Head of the mission of the International Monetary Fund (IMF), Zineddine Ould Zidane hailed Monday Algeria’s economic performances in 2013, with a sharp progress of the minus-hydrocarbon Gross Domestic Product (GDP) to 6%.

Speaking to reporters after his meeting with Minister of Labour, Employment and Social Security, Mohamed Benmeradi, IMF official said that all the indicators related to the Algerian economy "were good" during 2013, marked by significant drop of inflation rate down to 3%, while unemployment rate decreased to below 10% (9.8%).

During the IMF delegation visit, talks were centered on the means that allow to "continue improving the macroeconomic indicators, to accelerate the pace of growth, encourage economic competitiveness, create more jobs, improve living conditions of citizens and preserve macroeconomic stability.”

The two sides stressed the need for "reducing dependence on oil and developing and diversifying exports and revenues, while controlling public spending and pursuing financial reforms to allow access to a greater number of small and medium enterprises (SMEs) to credit and financing."

This visit, part of preparations and the consultations relating to the Article 4 of IMF status, will allow "assessing the Government’s priorities in terms of employment and conducting economic analysis that can help the Algerian authorities in the establishment of wise economic policies centered on the consolidation of growth and the creation of new jobs," Ould Zidane said, who is also adviser at IMF’s Middle East and Central Asia Department.

Monday, 17 March 2014


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