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Coface Country Risk" rating (A4) maintained for Algeria

PARIS- The French Insurance Company for Foreign Trade (Coface) maintained Tuesday the Country isk" rating (A4) for Algeria in the moment when business environment ranked at B and quotation medium term is classified risk "quite low."

During the presentation in Paris, his memo on the economy as part of its 17th Country Risk Conference, Coface noted, concerning Algeria that GDP growth was 2.6% in 2012 and will be 3.5% in 2013. Average annual inflation was 8.4% in 2102 and 5.0% in 2013.

The fiscal balance was of -3.0% (2102) and -2.0% (2013). The current account balance/GDP is of 8.2% (2012) and 6.5% (2013). Public debt of 8.5% (2012) and 8.0% (2013), says Coface.

On the risk assessment, Coface notes that growth is likely to rebound slightly in 2013 with a moderate increase in hydrocarbon production and further extensive program of public investment (housing, roads and railways).

(APS) Tuesday 22 January 2013

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