Algeria’s public debt hit 45% of GDP

Such was the result as of the end of 2019. The country is working to get its finances in order amid a volatile oil market.

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São Paulo – Algeria’s public debt was equivalent to 45% of its Gross Domestic Product (GDP) by the end of last year, international news outlets reported this Tuesday (11). Prime minister Abdelaziz Djerad said the country’s economy is in a “delicate” situation. Two years ago, public debt amounted to 26% of GDP.

Algeria is struggling with its finances due to plummeting oil and gas revenues stemming from market volatility and weak prices over the last few years. The government is planning to seek out alternative sources of funding, including a local stock exchange.

Translated by Gabriel Pomerancblum

Marc Garanger/Aurimages

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