Algerian government expects 8 per cent GDP growth in 2008

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Algerian government expects 8 per cent GDP growth in 2008
23/03/2006

Algerian economic growth accelerated to 5.7 per cent in 2005, up from 5.2 per cent in 2004, on the back of high oil prices and a multi-billion dollar national development plan, Prime Minister Ahmed Ouyahia announced at a press conference. Officials expect GDP growth to reach 5.8 per cent by the end of 2006, and 8 per cent in 2008. The government is carrying out an $80 billion investment programme to spur economic growth and rebuild infrastructure. Ouyahia said the plan would be financed by state budgets, but needs foreign expertise to be implemented. He added that the total value of investments in all sectors of the economy stood at $16 billion in 2005, including $3 billion of foreign direct investment. (El Moudjahid, APS)

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