IMF highlights significant progress in Algeria's economic diversification

The International Monetary Fund (IMF) has acknowledged encouraging trends in Algeria's efforts to diversify its economy beyond the oil and gas sector. The institution highlighted that the national strategy, focused on large-scale infrastructure projects and the expansion of mining, food, and water security, is showing concrete results. According to the IMF, the contribution of non-hydrocarbon sectors to GDP and total exports has risen over the past ten years. These advancements are attributed to structural reforms, such as the implementation of a national one-stop shop for investments and new regulations regarding economic land and mining. Furthermore, the IMF noted that Algeria's role as a major energy supplier to African and European markets remains a key strategic asset for the nation.