Laksaci: “Algeria's current foreign reserves at USD 182billion”

The Bank of Algeria Governor, Mohamed Laksaci, stated that at the current time, the country’s foreign exchange reserves are estimated to be at USD182 billion.

• Mr Laksaci said that last year’s overall economic growth declined by 2.4 percent from 3.4 percent in 2010 as a result of the slowdown in the public works sector.

• However, agriculture and services sectors expanded very slowly, resulting in a drop in growth outside hydrocarbons by 5.2 percent last year, from 6 percent in 2010.

• In 2011, imports of products have reached around USD44.94 billion, growing by 15.56 percent from a year ago.
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• It should be noted that Algeria’s non-oil exports jumped by 25.77 percent in 2011 to USD1.22 billion, from USD970 million a year earlier.