Algeria to witness slow growth through to 2021 following $215 billion investment plan
The ongoing, five-year investment plan worth $215 billion, which was launched in 2015, has supported development for various infrastructure projects including hospitals, transportation and water.
While the industry is forecasted to continue expanding over the next two and a half years, it will happen at a relatively slow pace, the reports add, with a new emphasis on the transport, housing, energy and education sectors. In fact, 2.2 million housing units, access roads and parking facilities worth $67 billion has been added to the current investment plan.
The industry's output value recorded a compound annual growth rate (CAGR) of 5.99 percent during the review period (2015-2019), and is expected to post a forecast-period CAGR of 5.22 percent.
The Algerian economy has traditionally relied on revenues from oil exports, as it's one of Africa's mail oil producers; however, with the collapse of oil prices in mid-2014, the country has worked to diversify its economy. This is expected to drive private and foreign investments in the country's non-oil sectors over the forecast period (2017-2021), including construction.