Algeria economy to grow 4 percent in 2015

10 Dec 2014

(MENAFN) Algerian Central Bank said that the country is expected to register a growth of 4 percent in its economy due to the expansion in its non-oil businesses and despite the plunge of global oil prices to five-year lows, Gulf Daily News reported.

“We hope, expect above 4 percent growth next year. Our potential is really above 5 percent, but over 4 percent is realistic since the non-oil growth is good,” Algeria’s Central Bank Governor said.

Meanwhile, the country’s gross domestic product (GDP) is expected to expand 4 percent this year compared with 2.8 percent last year, while total bank credit is projected to expand 20 percent this year compared to 19 percent in 2013 and 15 percent in 2012.

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