Algeria continues to face important challenges posed by lower oil prices, says an International Monetary Fund (IMF) staff team, which visited the country for the past two weeks. “Algeria continues to face important challenges posed by lower oil prices. Despite some fiscal consolidation in 2016, the fiscal and current account deficits remained large, and public debt increased. “Fiscal consolidation will need to be sustained as oil prices are expected to remain low and hydrocarbon reserves are exhaustible. “The Bank of Algeria will need to stand ready to tighten monetary policy in light of growing inflationary pressures.

Source: News Business Ethiopia March 21, 2017 07:52 UTC