The figures relating to the note of the situation of the Bank of Algeria (BA), relayed Tuesday by the national press, suggest that the foreign exchange reserves for the year 2023 were of the order of 52.76 billion dollars. , while it is an amount stopped on September 30, 2022, indicated a note of precision from the Bank of Algeria.
“On the other hand, concerning the year 2023 the level of these reserves reached 64.63 billion dollars”, specified the note, wishing to recall “that we are at the beginning of the 2023 financial year and that this figure could know naturally an evolution.
Indeed, according to the economic note made public at the beginning of the week by the Bank of Algeria, the official foreign exchange reserves (monetary gold not included) amounted to 52.763 billion equivalent dollars at the end of September 2022, against 45.296 billion equivalent dollars. at the end of December 2021 and 44.724 billion equivalent dollars at the end of September 2021, i.e. respective increases of 7.465 billion equivalent dollars and 8.039 billion equivalent dollars.
Also adding that Algeria’s monetary gold stock at the end of September 2022 remained unchanged at 5,585,772.702 ounces of gold.
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Economic growth of 2.8% in the 2nd quarter of 2022 in Algeria
Regarding Algeria’s economic activity, it was characterized again, according to the BA, by “appreciable growth of 2.8%” in the second quarter of 2022. The latter was supported by all sectors, except that of hydrocarbons which recorded a negative growth of 1.5%, underlines the document of the BA. Noting that real GDP growth reached 3.6% against 6.3% in the second quarter of 2021.
In terms of public finance indicator, at the end of August 2022, the overall balance of the Treasury “significantly improved” by recording a surplus of 316.5 billion DA against a deficit of 1,111.7 billion DA in the same period of the year 2021. This surplus is mainly due to the increase in budgetary revenues, in particular those from hydrocarbons, is explained in the note.
The BA also notes a positive balance of the Revenue Regulation Fund (FRR), of 698.1 billion DA at the end of September 2022. It should be noted that this fund was fed by the surpluses recorded in terms of oil taxation provided for by the Law of finance of 2022.
