Algeria’s Economy May Grow 4.7% in 2012, Finance Minister Says

Algeria’s economy may grow 4.7 percent in 2012 after 3.9 percent growth this year, state-run Algerie Presse Service reported, citing Finance Minister Karim Djoudi.

Djoudi said the ministry’s draft budget bill forecast inflation rate next year to remain unchanged from this year’s level of about 4 percent, the agency reported. The North African country’s 2012 budget is based on an oil price of $37 a barrel, which is similar to this year’s figure, Djoudi said.

Algeria has an external debt of $5.2 billion, he said.

To contact the reporter on this story: Salah Slimani in Algiers at sslimani2@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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