2023-11-04 16:43:50
ALGIERS – Algeria’s economic growth is expected to reach 4.2% in 2024 thanks to the performance of several sectors of activity, notably services, agriculture, BTPH and industry, according to forecasts in the draft law of Finance (PLF) for the year 2024, presented on Saturday by the Minister of Finance, Laaziz Faid, before the Finance and Budget Committee of the National People’s Assembly (APN).
“Economic growth should reach +4.2% in 2024, +3.9% in 2025 and +4.0% in 2026. This growth would result from the performance of all sectors of activity,” indicated Mr. Faid who mentioned the macroeconomic and budgetary framework for 2024 and outlook for 2025-2026 during his presentation of the PLF.
Thus, growth in the hydrocarbon sector is expected to grow by almost 1% in 2024, driven mainly by exports of natural gas, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) respectively +0.7%. , +1.4% and +1.1%.
The fiscal reference price of a barrel of crude oil is maintained at 60 dollars (USD) over the period 2024-2026, while the market price of a barrel is maintained at 70 USD over the same period, according to the minister.
Regarding the evolution of foreign trade activities, revenues from exports of goods would be of the order of 49.8 billion dollars in 2024 before reaching 50.3 billion USD and 51.6 billion USD, in 2025 and 2026 respectively.
Imports, for their part, would reach USD 43.5 billion in 2024, then USD 47.4 billion in 2025 and USD 47.4 billion in 2026.
Read also: APN: Faid presents the 2024 PLF before the Finance and Budget Committee
The trade balance should therefore be in surplus between 2024 and 2026, reaching, according to PLF forecasts, a surplus of USD 6.3 billion in 2024, then USD 2.9 billion in 2025 and USD 4.2 billion in 2026.
The PLF 2024 also expects a sharp increase in budgetary expenditure which should reach 15,275.3 billion DA in 2024, then 15,900.4 billion DA in 2025 and 15,705.6 billion DA in 2026.
In terms of budgetary revenue, they are expected to reach 9,105.3 billion DA in 2024 and increase on average by nearly +4.2% between 2025 and 2026, to reach 9,537.2 billion DA in 2025 and 9,881.9 billion DA in 2026. .
Concerning hydrocarbon taxation, a drop of 8.9% should be recorded in 2024 compared to 2023. It would go from 3,856.3 billion DA in 2023 to 3,512.3 billion DA in 2024, then 3,520.9 billion DA in 2025 and 3,563.3 billion DA in 2026.
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