ALGIERS – Friday, 07 October 2022 (APS) – Algeria has managed through President of the Republic Abdelmadjid Tebboune’s wise guidelines and the will of dedicated men to overcome a difficult economic situation that had an adverse effect on state public finances over the last few years, Prime Minister Aymen Benabderrahmane said Thursday in Algiers.

Responding to the questions of MPs at the People’s National Assembly (lower house of Parliament), during the debate on the government’s general policy statement, Benabderrahmane said “Algeria managed to overcome a difficult economic situation that had taken a heavy toll on state public finances through the wise guidelines of the president of the Republic and the will of dedicated men.”

The Premier cited the latest report by the International Monetary Fund (IMF) that commended the steps taken by the government over the past couple of years to give a fresh impetus to the economy.

In 2021, Algeria achieved a growth rate of 4.7% increasing the gross domestic product (GDP) to 3.5% after an economic stagnation in 2020 and a decline of -5.1%.

Mentioning the efforts of modernization of the banking sector, the Prime Minister underlined the facilitation measures taken to speed up the processing of loan applications.