阿尔及利亚2025年秋季经济更新：应对气候挑战，支持可持续发展（英）2025

Responding to ClimateChallenges and SupportingSustainable Development Fall 2025 AlgeriaEconomic Update Responding to Climate Challenges andSupporting Sustainable Development Fall 2025 © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington DC 20433Telephone: 202-473-1000Internet: www.worldbank.org This work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this workdo not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does notassume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of or fail-ure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, and otherinformation shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legalstatus of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immuni-ties of The World Bank, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, thiswork may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The WorldBank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. Cover photos used with permission of People Image Studio/ShutterStock.com (top); Kitreel/ShutterStock.com (center left);hamdi bendali/ShutterStock.com (center right); and samir sadoune/ShutterStock.com (bottom). TABLE OF CONTENTS List of Acronyms....................................................................................................... vAcknowledgements................................................................................................. viiExecutive Summary.................................................................................................. ixRésumé analytique.................................................................................................. xiملخص تنفيذي........................................................................................................xv Chapter 1: Recent Economic Developments..................................................................... 1Robust Cross-Sectoral Non-Hydrocarbon Growth Continued in H1-2025, Supported byDynamic Investment and Strong Private Consumption........................................................................................1Crude Oil Output Rose Slowly in H1-2025 and Gas Exports Declined, Weighing onHydrocarbon Revenues....................................................................................................................................................... 3The Current Account Deficit Widened in H1-2025 as Investment-Driven ImportsExpanded and Exports Contracted.................................................................................................................................. 6The Fiscal Deficit Widened in 2024 as Hydrocarbon Revenues Contracted andWas Largely Financed by Oil Savings............................................................................................................................. 7Driven by Declining Food Prices, Inflation Continued to Ease Over the First Nine Months of 2025................. 8Chapter 2: Outlook and Risks..................................................................................... 11Robust Non-Hydrocarbon Expansion Would Continue in 2025 and 2026............................................................. 11Fiscal and External Deficits Would Remain Elevated amid Relatively Low Hydrocarbon Prices...................... 11Volatile Hydrocarbon Prices and Rising Geopolitical Tensions Represent ImportantRisks for the Outlook..........................................................................................................................................................13Chapter 3: Responding to a Changing Climate for Sustainable Development............................. 15Risks From Climate Change Underline the Importance of a Climate-Informed Development Strategy..........15Algeria’s Growth Strategy Also Needs to be Cognizant of Global Decarbonization Efforts...............................17Annex 1: Recent Special Sections of the Algeria Economic Update......................................... 21Bibliography....................................................................................