Algeria, October 10, 2018

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Algerian Central Bank allocates 80 bln USD loans to boost economy

(Xinhua) -- The Central Bank of Algeria allocated loans of more than 80 billion U.S. dollars to public and private sectors in the first half of 2018, a 6-percent increase compared wiht a year ago, according to a report issued by the bank on Monday.

Loans assigned to the public sector rose by 7.6 percent to more than 39 billion dollars compared with a year ago, while those allocated to the private sector amounted to some 40 billion dollars, with an increase of 4.3 percent over the same period last year.

The report said that 54.51 percent of the loans are long-term credits allocated to state-run companies in the hydrocarbons sector.

Short-term loans accounted for 26.8 percent, while the share of medium-term loans stood at 18.62 percent, said the report.

Following the country's financial crisis caused by the drop of oil prices, and shrink of the foreign exchange reserves, the Algerian government has resorted to a series of 'easy money' policies to boost its national economy, which might provoke inflation and depreciate the value of the Algerian dinar.

xinhuanet



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