Algeria Eyes 3%-3.5% Inflation Rate in 2010

Algeria aims to stabilize its inflation rate around 3% to 3.5%, the Algerian Finance Minister, Karim Djoudi, said. "We hope that inflation will slightly drop to stabilize around 3% to 3.5% in 2010," Djoudi declared on the sidelines of the opening ceremony of the spring session of the People’s National Assembly (APN, Parliament).

The macroeconomic guidelines of the 2010 Finance Act are based on an inflation rate of 3.5% and a predicted GDP (gross domestic product) growth rate of 4% (5.5% non-hydrocarbon). The average inflation rate in Algeria reached 5.7% in 2009, against 4.4% in 2008, according to figures provided by the National Statistics Office (ONS) and published last January.- APS