Algeria's growth may diverge from IMF forecasts
Algerian President Abdelmadjid Tebboune confirmed that Algeria's economy in 2026 is expected to grow by more than the International Monetary Fund's forecast of 3.8%, with projections ranging between 4.01% and 4.02%. He also reiterated Algeria's aim to achieve annual hard currency revenues of no less than $50 billion. Tebboune explained that the IMF has promised a gradual decline in Algeria's reserves from the current $46.5 billion to $19.8 billion by 2031. Despite this, he emphasized that Algeria is working to increase its reserves and reduce dependence on hydrocarbons through diversifying the economy and investing in industries such as mining, automobiles, and electronic chips. He also highlighted that Algerian ships passing through the Strait of Hormuz do so smoothly and in coordination with international powers to ensure stability in the oil market.
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