Algeria records economic decline with 2.2 percent growth| MENAFN.COM

Friday, 19 August 2022 09:07 GMT

Algeria records economic decline with 2.2 percent growth


(MENAFN) Algeria was revealed to have recorded a 3.3 percent decline in economy from 2016, as it reported only a 2.2 percent growth last year.

The central bank has also confirmed in its document the country's inflation to have arrived at 5.6 percent in 2017, compared to 6.4 percent in 2016.

Algeria has also seen a USD3 billion drop in the balance of its payments shortfall, reaching USD23.3 billion.

It has also reported an USD16.8 billion decline in foreign exchange reserves, reaching USD97.3 billion last year, compared to USD114.1 billion the previous year.

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