Algeria's Economy Is The weakest In The Region

International Monetary Fund (IMF) presented a black prospective on the Algerian economy for next year, with a decline in the growth of the economy (GDP), which will be the weakest in Algeria’s classification area by 0.8%, especially the significant rise in unemployment, which will be the second largest rate after Sudan.

The report of the International Monetary Fund in its report on the prospects for the world economy of 2018 noted that Algeria will see a decline in the growth of the Algerian economy, which will be in the range of only 0.8%, adding that in 2018 Algeria’s economy will be the weakest among all the countries of the region like the Middle East, North Africa, Pakistan and Afghanistan.

All countries in the region exceed in estimating the growth of their economies compared to Algeria that is exporting or importing oil.

For example, Morocco will see a growth rate of 3% in 2018, which is the same for Tunisia and 4.5% for Egypt, while Algeria’s closest growth rate in Saudi Arabia will be 1.1% and the largest in Pakistan by 5.6%.

For the rest of the year, the International Monetary Fund (IMF) said Algeria’s economy grew by 1.5%, which is higher than the April forecast, when the rate reached 1.4%.

In addition to the weak prospects for the Algerian economy growth for next year, as it will be accompanied by a remarkable rise in unemployment levels, which will rise for the third year in a row.

According to IMF figures, the unemployment rate in Algeria will end this year at 11.7%, after ending in 2016 at 10.5%, and rising in the next year (2018) to 13.2%.

Unemployment in 2018 in Algeria will be the second highest rate after Sudan (18.6%), while in Tunisia it will drop from 13% to 12%, Egypt from 12.5 to 11.5% and in Morocco from 9.3 to 9.5%.

Concerning inflation, it is expected to end the year at 5.5% after a previous forecast of 4.8%, and will drop in 2018 to 4.4%.