ALGIERS, Nov. 4 (Xinhua) -- Algerian Finance Minister Laaziz Faid announced on Monday a projected economic growth rate of 4.5 percent for 2025, as part of the presentation of the budget bill to the National People's Assembly, or the lower house of parliament, the state-run APS news agency reported.
Regarding the growth by sectors, Faid noted that in the coming year, the industrial sector is expected to expand by 6.2 percent, agriculture by 4.4 percent, construction and public works by 4.3 percent, while the hydrocarbons sector is projected to grow by 2.4 percent, the report said.
The bill is based on a reference price of 60 U.S. dollars per barrel of crude oil, with an estimated market price of 70 dollars per barrel over the 2025-2027 period, it said.
Total expenditures in 2025 are projected to reach 16,794.61 billion dinars (about 126 billion dollars), a 9.9 percent increase over the 2024 budget. Meanwhile, revenues are expected to grow by 3.5 percent to 8,523.06 billion dinars.
The draft budget also forecasts Algeria's gross domestic product (GDP) to reach 37,863 billion dinars in 2025, 40,850.54 billion dinars in 2026, and 41,859.30 billion dinars in 2027.
Non-oil budget revenues are anticipated to rise by 7.3 percent in 2025.
The budget projects a deficit of 21.8 percent of the GDP for the coming year, with the total treasury balance expected to reach 9,221.55 billion dinars, representing 24.4 percent of the GDP. ■