After averaging 2.6% in the first half of 2022, GDP growth accelerated to 3.5% in the third quarter of 2022, according to recently released data. The expected acceleration was broad-based, driven by the agriculture, hydrocarbons, industry, and services sectors. Only the construction sector slowed down.
Our experts expect economic growth to have accelerated further in Q4 2022. For Q1 2023, the available data are rather negative. Oil production stagnated in January and February compared to the previous month, which is a bad sign for the hydrocarbon sector. Inflation increased slightly in January compared to the fourth quarter, which is expected to affect private spending.
In March, automaker Stellantis announced that it would build a $213 million plant and begin production before the end of the year. On a less positive note, operations at the plant of friendly automaker Renault have been suspended since mid-January due to supply bottlenecks.
Algeria inflation was stable at 9.5% in January. A decline is expected in the further course of year 2
Algeria Inflation
Inflation was stable at 9.5% in January. It is seen declining later in 2023 due to such factors as a tougher base effect, government subsidies, cooling commodity prices and a strong wheat crop. Currency weakness and extreme weather events are upside risks.
Chart : Algeria Economic Data
Source : https://internationalsupermarketnews.com/algeria-economy-will-keep-growing-outside-hydrocarbon/
