Algeria’s GDP is expected to reach $180 billion this year

Gross domestic product (GDP) for this year is expected to reach $180 billion, with Algeria ranking second in Africa, economist Mourad Kouachi said.

In statements made this Friday to the local Radio Sétif, the economist indicated that the Algerian dinar experienced a historic and sudden jump in official transactions only, 1 euro or dollar is worth 140 da.

The rate of increase was estimated at 12.5 percent of its value in the previous year, and it is expected to continue increasing this year and next year as well, according to Mr. Kouachi.

Let’s also not forget that the value of the dollar and the euro has decreased with the improvement in the value of the dinar, and the reasons are due to the positive macroeconomic indicators, achieving an economic growth of 3.6% this year.

It explains the increase in the State’s foreign exchange reserves due to Algerian exports in the field of hydrocarbons, and external factors such as the fall in the value of the dollar and the euro.

Kouachi said that Algeria’s hydrocarbon revenue could reach $60 billion this year, and Algeria’s non-hydrocarbon exports aim to reach $7 billion, of which we have already reached more than 50 percent. in the first half of this year.

Inflation and Appreciation of the Dinar

Some other achievements such as the start of operations of Ghar Jbeilat; Algeria’s intention to join the BRICS and the president’s statements aimed at increasing the value of the dinar have contributed to this rise.

The economist estimates that the biggest problem currently is inflation, which is a global problem, don’t all pay souffrent, according to non-official reports, and the percentage is atteint 10%, and the dinar appraisal contributes to slowing it down. rate of inflation.

Mourad Kouachi indicated that the rise in the value of the dinar will contribute to the stability of the purchasing power of citizens and the stability of the prices of products, but without declining due to the strength of the parallel market and the mentality of the Algerian trader. .

He estimates that the black market is the biggest obstacle suffered by the national economy, he speaks of 75 billion dollars, so the next strategy is to organize and structure this market to order the national economy.

Referring to Algeria’s intention to join the BRICS group, the economist indicated that they are the fastest growing countries in the world, giving a strong economic boost, because they trade in the local currency, and there is great support from China, Russia and South Africa. .

The goal is to activate economic transactions between these countries in local currency, which is a giant step for the national economy, he said.

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