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African Economic Outlook 2013

Structural Transformation and Natural Resources

image of African Economic Outlook 2013

The African Economic Outlook is the only annual report that monitors in detail the economic performance of 53 individual countries on the continent, using a strictly comparable analytical framework.

The focus of the 2013 edition if structural transformation and natural resources in Africa. This edition draws lessons from Africa and elsewhere on how to accelerate structural change and amplify the positive force of natural resources. The report also features and overview of Africa's performance and prospects, country notes and a rich statistical annex.

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Algeria

OECD Development Centre

In 2012, the Algerian economy grew by 2.5%, up slightly from 2.4% in 2011. Excluding hydrocarbons, growth has been estimated at 5.8% (up from 5.7% in 2011). Inflation is increasing and is estimated at 8.9% (up from 4.49% in 2011). Despite the financial authorities’ good performance, thanks to modernisation reforms, the budget deficit widened to 3.3% of GDP in 2012 (as against 1.3% in 2011) due to the continuation of the expansionary fiscal policy initiated in 2011 to meet strong social demands in terms of purchasing power, jobs and housing. The oil and gas sector is the country’s main source of revenues, having generated about 70% of total budget receipts. The economy is projected to grow by 3.2% in 2013 and by 4.0 % in 2014.

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